Hello everyone! I'm a novice investor from Los Angeles, California (Northridge / Porter Ranch area)

14 Replies

Hi everyone!

My name is Joanne. I'm a recent graduate from Uwashington, Seattle, moved down to LA for a - just over broke - job in a start-up biotechnology firm working as a research scientist. I stumbled upon biggerpockets through "the ultimate beginner's guide to real estate" book from amazon. What drives me to read the book is because I was stuck at the mental roadblock as to how should I go about starting the real estate business.

Questions, suggestions, feedbacks, warm welcomes are highly appreciated. :)

Thanks!

Joanne

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Welcome to the forum!

This place has tons if educational tools and many knowledgable people - take advantage of both!

Having been in LA most of my life, I know SoCal pretty well. If you have question, by all means.

Good luck!!

Welcome @Joanne Lee  , Also a newbie in the Porter Ranch area.

Definitely check out the podcasts.  I started last month and I've listened to 15 so far. 

This week also is full of meetups that you can attend in the area:

Commercial RE Investors Mastermind meets tomorrow in West Hills

Real Estate Club in Action meets in Burbank on Wednesday

San Fernando Valley Real Estate Club meets on Wednesday in Van Nuys

Fibi Pasadena meets on Thursday in Pasadena

I'm hoping to catch a couple of these.

Good luck and see you around.

Originally posted by @Joanne Lee :

Hi everyone!

My name is Joanne. I'm a recent graduate from Uwashington, Seattle, moved down to LA for a - just over broke - job in a start-up biotechnology firm working as a research scientist. I stumbled upon biggerpockets through "the ultimate beginner's guide to real estate" book from amazon. What drives me to read the book is because I was stuck at the mental roadblock as to how should I go about starting the real estate business.

Questions, suggestions, feedbacks, warm welcomes are highly appreciated. :)

Thanks!

Joanne

Welcome to BP Joanne,

My advice would be, JV with a knowledgeable and experienced investor so you can learn the ropes. That will allow you to stay in your J.O.B. for the time being until you feel you could go it alone and replace that income with your passive holdings.

Read. Invest in your education, and don't be one of those that sit on the sidelines watching the game. So many friends that I speak to when I go back to Australia say they wish they could do what I did. I just shrug and ask them, why don't you.

Oh, and always have an exit strategy. Know that things can go wrong and identify what ways you can get out of a deal. If you're fine with the downside, then enjoy the upside.

@Joanne Lee  

Welcome. Take a good look at student housing see below. 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.

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 Joanne! I love Northridge. I used to be up in Sherman Oaks a lot when my best friend was living there, and I fly in and out of Van Nuys all the time. I live down in Venice currently. 

Definitely reach out to anyone on here as you get started. Tons of people who can help with just about everything!

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Joanne, welcome to BiggerPockets!  I did the opposite of you - left the LA area to attend UW.  Met my husband there and now my oldest daughter is waiting for admission notification.  Just starting out, saving and getting your credit as good as it can be, inviting nearby investors to coffee or a meal, and volunteering or partnering with people doing what you want to do are practical steps, in addition to learning.

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