Hello from Northern California

6 Replies

Hi everyone,

I just signed up for the site and I'm listening to the podcasts now. I'm a 32 year old software developer and I'm ready to dive in to real estate investing. I just wanted to say hello and introduce myself.

Although I have the desire, I have to admit it feels intimidating. Can you relate? How long did you feel like that? Does it ever go away?

Hey @Brian Zitzow

Great to have you as a new member of Bigger Pockets!

I admit that I was in the same boat you are until I found an experienced professional willing to take me under their wing as an intern.

Just keep networking and send out those colleague requests to potential partners, you may find a potential mentor soon.

Best of luck to you!

-Kyle

@Brian Zitzow , welcome to BiggerPockets. Those Podcasts can be pretty inspiring! Also check out the Blog.

What kind of investing are you looking at? Doing research and learning as much as you can is a great way to lessen the intimidating feelings, but nothing quite pushes it away like experience.

Search the site to see if there is a meetup located near you. Partnering with a more experienced investor or even just watching what they do can also help give you the confidence to do your first deal.

And start small. You don't have to jump in with both feet straight into the deep end. Good luck!

Welcome to the site. The amount of information here is incredible. I'm not too far from you, just up highway 50. Be sure to check out the articles under the learn tab. You'll also want to set up keyword alerts. 

@Mindy Jensen Since I first posted I have learned how to analyze a deal and started analyzing single family homes in the area. I confirmed first hand what common knowledge already told me - single family residential buy and hold for rental income is not realistic in my area.

I am now looking into multi-family. My understanding is that if I choose to live in one unit I can get better financing. I'm pre approved for 500k. 

Funny enough, a gentleman flipped a house across the street from me since this post started. I approached him and he said that I could take him out to lunch. I'm going to call him after the holidays.

Furthermore, I've started looking up properties on the tax assessors website and identifying the owners of properties - like the vacant duplex the next street over.

So now that I've got that address, should I send a letter / postcard to the owners to find out more information or see if they may be interested in selling it?

I feel fairly confident in analyzing the cash flow properly on a deal. Repair costs - less confident because of my lack of experience. Marketing, the same - not very confident. 

Time to read some more about these other areas. 

Originally posted by @Brian Zitzow :

@Mindy Jensen Since I first posted I have learned how to analyze a deal and started analyzing single family homes in the area. I confirmed first hand what common knowledge already told me - single family residential buy and hold for rental income is not realistic in my area.

I am now looking into multi-family. My understanding is that if I choose to live in one unit I can get better financing. I'm pre approved for 500k. 

Funny enough, a gentleman flipped a house across the street from me since this post started. I approached him and he said that I could take him out to lunch. I'm going to call him after the holidays.

Furthermore, I've started looking up properties on the tax assessors website and identifying the owners of properties - like the vacant duplex the next street over.

So now that I've got that address, should I send a letter / postcard to the owners to find out more information or see if they may be interested in selling it?

I feel fairly confident in analyzing the cash flow properly on a deal. Repair costs - less confident because of my lack of experience. Marketing, the same - not very confident. 

Time to read some more about these other areas. 

Welcome to the site. Dont be discouraged as I have been investing in SFR around your counties for sometime now. Cashflows very well. Feel free to reach out if you want some more info. With 500k loan you can defiantly get into a nice multifamily units with nice cash but with less than 100k investment you can be getting a 1k monthly return in rents.

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