Newbie from San Jose, California

Newbie from San Jose, California

Eric GiovannucciBusiness Member
Investor · Boise, ID · Member since 2014 · 172 posts · 99 votes

Well it is time for the paralysis analysis to end. I have essentially had my hand forced into starting my "investing". I am currently still on Active Duty in the US Army, and have been placed on assignment to San Jose, California for recruiting duty (blah). I have been planning on becoming more seriously involved in the real estate investing game, but have been to be brutally honest "scared". I am 25 years old and am married to my beautiful wife Alyson, we have two children together, Anthony (2.5 years old) and Dominic (1 month old) 

Short Term Goals: 

1.)Build a systematic approach to obtaining leads, and converting them into deals prior to starting. I forget where I heard it, but the reason businesses fail and franchises succeed is there "automation and systematized processes". I'd like to believe this will hold true within the real estate investing world as well. 

2.) Learn more through experience, possibly shadow someone local in exchange for some work so that I may get "hands on" knowledge.

3.) Use some of this knowledge I have obtained to use creative financing to obtain a residence for my family in South San Jose area

4.) Complete my first lease option deal prior to January 2015. 

Long Term Goals

1.) Build a solid team in multiple areas to invest in different markets. 

2.) Be able to feel confident in leaving the military to work within real estate full time (preferably investing solely right away, but backup plan is to possibly work as an agent)

I have sought out a paid mentor and he has helped tremendously thus far. However, I want to learn from multiple angles and even people that are within the current market that I will be living (I would like to start working East Bay). I think this forum will provide excellent networking, and would love to attend some local meetings with anyone that is active! 

I look forward to speaking with you all, local and far away, I am extremely grateful to have found this website, and podcasts (they made the drive from El Paso, Texas to San Jose, CA more enjoyable!) 

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Investor · San Jose, CA · Member since 2012 · 2k+ posts · 3k+ votes
12y

Eric,

Welcome to Biggerpockets.  Thank you very much for your service to this incredible country.  No doubt you have found a great real estate resource.  Just absorb what you can.  Don't feel information overload.  Some stuff may not apply to you now.  Learning is progressive. It builds on itself. Take it one step at the time.  By the time you realized it, you have mastered all trades of real estate.

Let me warn you about investing away from job centers.  Remember that everything in life has a price.  There is no free lunch in the world of economic.  We, as human, tend to gravitate towards the path of least resistance.  Nevertheless, the path of least resistance will likely turn out to be rockier than we have anticipated or prepared for. Once we realized that the grass is not greener on the other side, the damage has been done.  As you already know, a bad financial decision can set us back a decade or much longer.  So tread carefully.
 

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  • Eric GiovannucciBusiness Member
    OP
    Investor · Boise, ID · Member since 2014 · 172 posts · 99 votes
    12y

    @Johnson H. and all others that have graciously invited me to meetups, I am still a "transient" haha and am currently staying at the inlaws while we are attempting to find a house here in the Bay area. We are looking into Morgan Hill specifically. If anyone would like to help, we would love some assistance. We are working with a Realtor, however, you guys know this place best IMO. 

    @Brandon Turner Thanks for the welcome, your encouraging recommendations on the pod cast pushed my hand to become one of the 40k listeners to start picking brains here!  Taking a right on financial freedom drive lol, the beginning of this road needs to be repaved as it has already proven to be bumpy! 

  • J. MartinPro Member
    Rental Property Investor · Oakland, CA · Member since 2011 · 3k+ posts · 2k+ votes
    12y
    Originally posted by @Eric Giovannucci:

    @Johnson H. and all others that have graciously invited me to meetups, I am still a "transient" haha and am currently staying at the inlaws while we are attempting to find a house here in the Bay area. We are looking into Morgan Hill specifically. If anyone would like to help, we would love some assistance. We are working with a Realtor, however, you guys know this place best IMO. ...

    Eric, What is it that you would like help with? There are a lot of great people who I'm sure would be happy to help out, but it's easier if you can let us know what your concerns are or what you would like help with more specifically..

    Advice on what areas best match your family's circumstances? Where you will find a home that most likely fits your price point? Whether the commute from Morgan Hill is bearable? Or if we think it's an up and coming area for the future..? A better realtor? Access to listings coming on market? Someone to tell you, "Yes, it's a good time to buy."?

    I'm not an expert on that area, but there are a lot of great investors down on the peninsula who might be able to point you in the right direction.. Or maybe I can at least help point you to one if you know what you need help with..

  • Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    12y

    Welcome to BP community @Eric Giovannucci  It is a great place to meet new friends and learn about various aspects of real estate and more. 

    Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts

    Wishing you the best! 

  • Eric GiovannucciBusiness Member
    OP
    Investor · Boise, ID · Member since 2014 · 172 posts · 99 votes
    12y

    @Dmitriy Fomichenko Thank you for the welcoming! 

    @J. Martin We are pretty set on south san jose, or morgan hill. I think what is restricting us is our price range. Look at around 550k. We are slowly realizing that doesn't get us very much here. The MLS offers us very few options. If I could get some heads up on an upcoming property or maybe something that someone is looking to move around that price range I would appreciate that greatly. My place of work is over on Almaden Expressway and Blossom hill road, would the commute from MH be horrid?

  • J. MartinPro Member
    Rental Property Investor · Oakland, CA · Member since 2011 · 3k+ posts · 2k+ votes
    12y

    You'll have to ask someone who commutes in the South Bay about the drive from Morgan Hill. Maybe someone in San Jose knows? Or look on city-data.com . There are a lot of local forums, including on traffic/commuting.

    I'll be sure to let you know if I see anything down that way..

  • Mark B.Pro Member
    Rental Property Investor · Morgan Hill, CA · Member since 2012 · 212 posts · 64 votes
    12y

    @Eric Giovannucci Best thing to do is get up really early for a few days and start in Morgan Hill when you would normally have to start your commute to get to work. Northbound it is heaviest between Tennant and Dunne and starts to lighten up around Cochrane. There are a few N/S off freeway options as well. 

    There are a few duplexes on the market and with high quality tenants, the area is suitable for live in one and rent out the other situations. Great place to live!

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