Happy 2015 BP- Newbie from Los Angeles, CA

17 Replies

Hi BP Community,

Happy New Year!

I am super excited to start 2015 with my new passion Real Estate Investing. I am an IT professional working fulltime. I have been browsing BiggerPockets for last 2 weeks and listening to the podcast. This looks like great place for networking & learning about real estate investing especially for rookies like myself. I have also read few books related to REI and think it's now time for me to start putting knowledge into execution.

My plan is to build pro-folio of rental properties to have an income stream and when the market is good flip and continue buying additional rental properties. I am interested in purchasing single and multi-family homes for rentals while keeping my full time job for now.

I'm excited about the opportunity of exploring this forum more to see the kind of resources available for individuals like myself.

I'm all about connecting, being humble enough to learn from others. I hope to meet, work, grow, and learn, from all of you like minded people on BP.

Looking forward to make new friends and learn more about REI

Thank You!

Sid

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@Sid Arora 

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 100 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.

To find out about an area go to IREM.org search for ARM certified property managers. Call 5 ask them what sides of the city they like/dislike and why. Ask what they see them selling for and what expenses are by category. Ask for market occupancy and rents. Ask if they know anything coming up for sale.

You can also search narpm.org for the RMP (Residential Management Professional) and MPM (Master Property Manager) certified.

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

Welcome to BiggerPockets @Sid Arora , thanks so much for taking the time to introduce yourself to the community! I'm actually here in WH as well :) It seems like you've set goals are motivated towards accomplishing them. Let me know if I can answer any questions!

Hope to see you more around the site!

Welcome to Biggerpockets!

You found the place to be! You will find no better place to build a solid platform than bigger pockets. The one thing we all agree up on is that we invest in real estate. Beyond that everyone has a different niche!

We are buy and hold investors who invest in class A properties self-managing from a distance while working full time. Our goal is to build a portfolio or as I say an "empire" of passive income to provide the cash flow needed for early retire in 15 years,  wo we do work on furthering our careers. We live very frugally allowing us to live off of one income and save the other. We have further our career and used the W2 income to leverage our real estate portfolio.

I highly recommend you also check out- the blogs, forums and listen to the podcasts. I talk about our experience in self-managing, buy and holds and investing in our niche in podcast 103.  If you see a post you enjoy check out the persons signature. As many of us have created resources around our niche (websites, blogs, etc) so checking out the signature is a great to get more information. Make sure you don't miss out on networking is by filling out your signature, profile and pming people with questions.

Look forward to seeing you around! Let me know if I can help! Good luck!!!

Thanks @Elizabeth Colegrove , you bet.. I'll reach-out to you as I have lot of question in my mind. I resonate with your strategy of "investing in class A properties self-managing from a distance while working full time" as this what I am planning to do.

Welcome bud!
Newb' here as well, looking to do it the other way around, Flips and then rentals, but we probably have a different background for conventional financing :P
Lookin' forward to learning with you and seeing you grow.
Hit me up any time if you'd like to chat RE or anything else.

Have a great weekend and happy new year!

Sean

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@Sid Arora

Welcome to the community! There are some great meetups in the Socal area. Here is one this weekend:

http://www.biggerpockets.com/forums/521/topics/164...

BP has a tremendous amount of information to help you, but it is only available if you seek it out. Be sure to be as active and engaging as possible. Read blogs, post questions, and the podcasts are gold! The best free education you can get. Good luck!

Welcome! Woodland Hills is great. I'm down in Venice and also have always bought rental properties. Sounds like you have a killer plan. I'm excited for you!

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