Newcomer from Sacramento, California

Newcomer from Sacramento, California

Real Estate Agent · Sacramento, CA · Member since 2014 · 19 posts · 8 votes

Hello Bigger Pockets forum, my name is Travis Grossman. I am completely brand new to real estate investing. I ran across the podcast about 2 months ago and haven't missed an episode yet. Its  great to run across a podcast so genuine as well as a huge forum who's members really care about helping each other. Up until now my interest has simply been through my grandfather duplexes he owns and the complexity of property management. I never gave it much thought when I was helping RM on his properties but with that being said he retired at the age of 50 and has been living on his passive income since then. The idea that over the years you acquire and rent out multiple properties and have the property paid off all the while gaining equity is amazing! Wow I know I sound like a huge newbie, but it is very exciting it can be accomplished correctly.

I am from the Sacramento , CA market. I have full time job that will keep me realistic in my short and long term goals. The stability of the job will allow me to save for a down payment and hopefully make it easy to personally finance.

I will be using my evenings as well as my weekends to start making moves towards my first buy. 

My niche will most likely be Single and Multifamily for buy and hold. From what I see my market is growing but is very competitive. Multifamily homes seem to be the lesser of the two.

Okay, well I am excited to be here and thank you all!

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Sergey TkachevPro Member
Investor, Agent, CPA · West Sacramento, CA · Member since 2009 · 690 posts · 262 votes
11y

@Travis Grossman 

Welcome to the site and welcome to the club - this is a great place to be.  I've invested in Sacramento as well and am planning to do a lot more, would be open to meeting you in person to connect if you like.  

Also, I second @Tapan Trivedi 's invitation - it's a great club, I've been to multiple times.

And last, watch for other local and regional meetups. We just had the REI Networking Summit in the Bay area (http://www.biggerpockets.com/forums/521/topics/132602-big-real-estate-networking-summit-nov-15-16-2014-at-sfsu-confirmed) - honestly the best such gathering I've been to. So look out for more similar events. :)

See this reply in the discussion

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  • Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    11y

    @Travis Grossman 

    welcome to the site.

  • Investor/Realtor · Hoover, AL · Member since 2010 · 1k+ posts · 459 votes
    11y

    Welcome to BP! A great resource!!..Keep learning and growing!!..Good luck!

  • Jon HuberPro Member
    Rental Property Investor · Boca Raton, FL · Member since 2014 · 1k+ posts · 713 votes
    11y

    @Travis Grossman

    Welcome to the community! Now get active. Read blogs, post questions, and I see you have already begun with the podcasts. Great choice. Good luck out there!

  • Investor · Yuba City, CA · Member since 2012 · 59 posts · 25 votes
    11y

    @Travis Grossman 

    Hi Travis. Welcome to BP. This place (BP) is pretty great. I'm just a bit north of you - Yuba City. I've been at this for three years now and have  few deals under my belt. Feel free to reach out to me with any questions. I definitely don't have all the answers but I'll give it a shot.

  • Hanford, CA · Member since 2013 · 5k+ posts · 1k+ votes
    11y

    Welcome to Biggerpockets!

    Nice to be meet someone with very similar goals and strategies :) We are in central California! This is a GREAT area to invest. Low taxes and insurance. While the states taxes are high, depreciation keep us pretty to neutral if not negative. So that has been awesome. 

    Specifically we are buy and hold investors in single family homes. Specifically in class A investments so we can self manage while working full time in two demanding jobs. We invest through two methods, pure rentals, and personals turned rentals. We LOVE leverage and get under market through foreclosure and short sales. Our goal is for early retirement in 15 years :)

    You will love the diverse community and all the resources. So a great place is to look around the blogs, forums and listen to the podcasts for different niches. If you see a post you enjoy check out the persons signature. Many of us including myself talk about our strategies, styles, niches and business model on our website. So definitely check that out as it is an amazing additional resource. For example, my blog is about while working full time, buy and hold investing, 0% Down Rentals, Personal Properties turned rentals, Long distancing investing, self-managing 3,000+ miles away. Definitely list your blog or website in your signature, if you have one. Its a great additional networking source.

    Look forward to seeing and connecting with you around! 

  • Investor · Sacramento, CA · Member since 2014 · 308 posts · 94 votes
    11y

    @Travis Grossman 

    Welcome to the site, make sure you subscribe to keyword alerts for what you are interested in.  You will automatically get email alerts when something pops up you are interested in.

  • Real Estate Agent · Sacramento, CA · Member since 2014 · 19 posts · 8 votes
    11y

    @John Huber

    @Jeff Wise

    @Rolanda Eldridge

    Thank you all for the warm welcomes. I look forward to diving deeper.

    @ Jeff Kennedy

    Excellent! Some localism help would be great thank you

    @chris Vail

    Thank you for the tip!

  • Real Estate Agent · Sacramento, CA · Member since 2014 · 19 posts · 8 votes
    11y

    I think I botched that @ job, how do we tag or @ reply to specific people?

  • Real Estate Agent · Sacramento/Placer ~ San Francisco Bay Area counties · Member since 2012 · 1k+ posts · 743 votes
    11y

    @Travis Grossman  You mean like this??

  • Specialist · Rockland, MA · Member since 2010 · 7k+ posts · 2k+ votes
    11y

    @Travis Grossman 

    Welcome. Time to build the foundation below.

    Check out the Start Here page http://www.biggerpockets.com/starthere

    Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

    Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 90 past ones to catch up on.

    Two Great reads, I bought both J. Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook

    Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and all the cash buyers (rehabbers) you will need.

    Consider checking out HUD homes for small multi's owner occupied gets first crack.

    You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

    Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

    http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

    Good luck

    Paul

  • Real Estate Agent · Sacramento, CA · Member since 2014 · 19 posts · 8 votes
    11y
    Originally posted by @Mark Pedroza:

    @Travis Grossman  You mean like this??

     Yes

  • Real Estate Agent · Sacramento, CA · Member since 2014 · 19 posts · 8 votes
    11y
    Originally posted by @Paul Timmins:

    @Travis Grossman 

    Welcome. Time to build the foundation below.

    Check out the Start Here page http://www.biggerpockets.com/starthere

    Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

    Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 90 past ones to catch up on.

    Two Great reads, I bought both J. Scott The Book on Flipping Houses,The Book on Estimating ReHab Costshttp://www.biggerpockets.com/flippingbook

    Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and all the cash buyers (rehabbers) you will need.

    Consider checking out HUD homes for small multi's owner occupied gets first crack.

    You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

    Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

    http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

    Good luck

    Paul

     Awesome, thank you!

  • Investor · Sacramento, CA · Member since 2014 · 56 posts · 8 votes
    11y

    @Travis Grossman, welcome to BP. I am a fellow Sacramentan and have been actively investing the area for a little over three years (multi-family). You're in a good place to be starting and are fortunate to have discovered BP early on in your endeavors. Yes, the podcasts are an excellent resource wiht some very genuine interviews. Most people on the site from what I've experienced are happy to help with guidance and opinions, or at least pointing you in the right direction. 

    Check out some of the free how-to guides if you haven't already. They are a great starting point. 

    Feel free to reach out to me personally. I would be happy to chat and meet up at some point.

  • Real Estate Investor · Sacramento, CA · Member since 2014 · 78 posts · 41 votes
    11y

    Hey Travis,

    Come and network with us at the Sacramento Real Estate Club www.sacramentorealestateclub.com We meet every Third Wednesday of the month at the Doubletree near the Arden Fair mall.

    Cheers,

    Tapan Trivedi

  • Real Estate Agent · Modesto, CA · Member since 2013 · 33 posts · 8 votes
    11y
    Travis Grossman I'm just south of you in Modesto. Definitely keep your job (for now) if all you want is to retire off passive income later, the slow and steady approach will work for you. Or if you decide to invest full time and become a guru, you will quit your job before long. It really just depends and how much you stoke your fire. Good luck to you. BP is an awesome place to learn.
  • Real Estate Agent · Sacramento, CA · Member since 2014 · 19 posts · 8 votes
    11y
    Originally posted by @Taylor McClung:

    @Travis Grossman, welcome to BP. I am a fellow Sacramentan and have been actively investing the area for a little over three years (multi-family). You're in a good place to be starting and are fortunate to have discovered BP early on in your endeavors. Yes, the podcasts are an excellent resource wiht some very genuine interviews. Most people on the site from what I've experienced are happy to help with guidance and opinions, or at least pointing you in the right direction. 

    Check out some of the free how-to guides if you haven't already. They are a great starting point. 

    Feel free to reach out to me personally. I would be happy to chat and meet up at some point.

     Wow! I look forward to making a meet up/chat happen. Thank you for taking the time to introduce yourself to me.

  • Real Estate Agent · Sacramento, CA · Member since 2014 · 19 posts · 8 votes
    11y
    Originally posted by @Steven Zagaris:

    Travis Grossman I'm just south of you in Modesto. Definitely keep your job (for now) if all you want is to retire off passive income later, the slow and steady approach will work for you. Or if you decide to invest full time and become a guru, you will quit your job before long. It really just depends and how much you stoke your fire. Good luck to you. BP is an awesome place to learn.

     Guruship seems far away at this moment but I know people like you and the other are a wealth of knowledge. Thank you for taking the time to say HI

  • Real Estate Agent · Sacramento, CA · Member since 2014 · 19 posts · 8 votes
    11y
    Originally posted by @Tapan Trivedi:

    Hey Travis,

    Come and network with us at the Sacramento Real Estate Club www.sacramentorealestateclub.com We meet every Third Wednesday of the month at the Doubletree near the Arden Fair mall.

    Cheers,

    Tapan Trivedi

     Oh this is great thank you for the invite. I will absolutely join once I have a bit more know-how under my belt, and can mingle and absorb a bit better. Thank you for responding and giving me some help.

  • Real Estate Investor · Sacramento, CA · Member since 2014 · 78 posts · 41 votes
    11y

    Travis ,

    There are people of all levels there. People who have done many many deals to people still looking for their first.

    Tapan

  • Sergey TkachevPro Member
    Investor, Agent, CPA · West Sacramento, CA · Member since 2009 · 690 posts · 262 votes
    11y

    @Travis Grossman 

    Welcome to the site and welcome to the club - this is a great place to be.  I've invested in Sacramento as well and am planning to do a lot more, would be open to meeting you in person to connect if you like.  

    Also, I second @Tapan Trivedi 's invitation - it's a great club, I've been to multiple times.

    And last, watch for other local and regional meetups. We just had the REI Networking Summit in the Bay area (http://www.biggerpockets.com/forums/521/topics/132602-big-real-estate-networking-summit-nov-15-16-2014-at-sfsu-confirmed) - honestly the best such gathering I've been to. So look out for more similar events. :)

  • Real Estate Coach · Venice Beach, CA · Member since 2012 · 6k+ posts · 3k+ votes
    11y

    Welcome! Super cool you have gramps as a role model. Watch out in Sacramento, just make sure any property you go after will actually give positive returns. Cash flow is tough out here.

    Good luck!

  • Real Estate Investor · Sacramento, CA · Member since 2014 · 78 posts · 41 votes
    11y

    @Ali Boone - Let us know your cash flow criteria. We will find those for you ! Cash Flow is difficult but not impossible.

    Cheers,

    Tapan

  • Rocklin CA · Member since 2013 · 88 posts · 12 votes
    11y

    Hopefully you haven't had anymore encounters with swindlers @ali boone

  • Real Estate Agent · Sacramento, CA · Member since 2012 · 111 posts · 26 votes
    11y

    Welcome @Travis Grossman! You may have heard some discuss owner-occupied multi-family housing.  This is a way a number of people jump in to rentals.  Some things to start thinking about:

    Areas, Pricing, and Rents

    -Start to familiarize yourself with the quality of different areas. Its not difficult to get the "feel" of different neighborhoods. Websites like Redfin.com and www.metrolistpro.com will give you more accurate info than Zillow, but you'll get the complete picture from an MLS search with a RE agent as rents will usually be listed in the hidden details of the listing.

    -I've been using rentometer.com for a back-of-the-napkin rental survey to see the variety of rental rates for an area.

    -Biggerpockets has a file sharing area.  Look for this under the "Resources" then "File Place".  Sort by downloads to see what is popular.  I think the one I like was posted by Brandon Turner.

    -Start playing in the calculator so you get a feel for what a cash flowing property looks like and you are ready to jump on a deal when you see one.

    Happy Investing!

  • Real Estate Agent · Sacramento, CA · Member since 2014 · 19 posts · 8 votes
    11y
    Originally posted by @Sergey Tkachev:

    @Travis Grossman 

    Welcome to the site and welcome to the club - this is a great place to be.  I've invested in Sacramento as well and am planning to do a lot more, would be open to meeting you in person to connect if you like.  

    Also, I second @Tapan Trivedi 's invitation - it's a great club, I've been to multiple times.

    And last, watch for other local and regional meetups. We just had the REI Networking Summit in the Bay area (http://www.biggerpockets.com/forums/521/topics/132602-big-real-estate-networking-summit-nov-15-16-2014-at-sfsu-confirmed) - honestly the best such gathering I've been to. So look out for more similar events. :)

     Excellent thank you. Its great to hear we have such a strong club that is helping new and salted investors out. I look forward to connecting soon

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