Hello everyone! I am new member from Los Angeles

18 Replies

Hi everyone,

My name is Judy. I'll be brief about my bio and reach out to me if I could be a helping hand to you! 

I have been working since I was a senior in high school. Fast forward, now I am going toward my late 20s. I have switched career once, from banking/finance to product manager in a tech startup world, and it was the best thing I ever did. Although I have yet to hit a 6-figure income goal, but I have saved up a good chunk of money to invest. I have started investing in the stock market, but I don't think it is enough for me. I want to start on the real estate investing. I just don't know how to start with little money, and how to make money in this crazy housing market at where I reside, (Los Angeles). 

I am super eager to start, and I need some guidance to start my journey. 

Thank you so much everyone!!

Welcome Judy! Check out books by J Scott here on BP, they are helpful, get those deposit out of stocks, they aren't worth anything. Buy and holds aren't good in LA, flipping is a better choice here, or maybe modulars. Join our next BP meet, you will learn a lot, there are a couple of young newbies there also, maybe partner up with 2-3 of them on your first one. :)

Hi welcome to BP!

@Manolo D. When and where are the BP meetups i'd like to attend one as well.  I've been to a few FIBI and meetup.org ones they were pretty good

Welcome @Judy Tran .  I'd recommend the podcasts if you haven't listened yet. Great way to learn while sitting in LA traffic. 

I don't know if I'd go as far as @Manolo D. and say that stocks are worthless, but you are definitely at a huge informational disadvantage compared with professional investors. Plus, it's far more volatile. Real estate is far more accessible.  Stocks aren't necessarily bad, but I think @Manolo D. was getting at the wide variety of advantages to real estate investing that are available to you. Either way, passive income is the name of the game. 

Setting aside the cash is the hardest part and it looks like you're doing well in that regard, so keep it up!

@David Tipton Stocks are only realized if you cash them out, it goes up and down, but until it hits your bank, it is just numbers. Too much fees when cashing out also. Other people might think differently but that's just my take. Plus, you cant get 80% more money to play while giving only 20%. hehe.

Will F. Those are organized by Jeff Greenberg and Kyle. You can find them at one of the tabs here in BP, sorry, mobile mode lol.

Welcome to BP Judy! It's great that you have this drive at such a young age. Keep educating and connecting with as many people as you can. Everyone here is very welcoming and you can learn a lot and meet some great people.

@Manolo D. I'm curious to hear why you don't think buy and holds are good here. That's something I'm looking to get into.

Originally posted by @Shamim Toufighian :

Welcome to BP Judy! It's great that you have this drive at such a young age. Keep educating and connecting with as many people as you can. Everyone here is very welcoming and you can learn a lot and meet some great people.

@Manolo D. I'm curious to hear why you don't think buy and holds are good here. That's something I'm looking to get into.

 Well, she said she wants to invest in "LA" market, they are expensive and don't cash flow, she will be banking on appreciation, some prefer outside LA and cash flow 0.5% instead of 1% on other states, 0.5% + appreciation might give you a taste of both worlds. If you want to do a 4-plex though, it might cash flow, or at minimum pay for its own mortgage. I always think that if I do an investment, it will be a 4-plex and I will be living for free.

Originally posted by @Manolo D. :
If you want to do a 4-plex though, it might cash flow, or at minimum pay for its own mortgage. I always think that if I do an investment, it will be a 4-plex and I will be living for free.

 That's exactly what I'm hoping to do. My wife and I (and our 2 year old) are currently renting and are wanting to find a primary residence to owner occupy so we're not throwing our money away on rent. A 2-4plex is the only way we feel we can pull that off, being that the other units would help us cover the mortgage.

I own a property in Atlanta that we've bought and held for over 10 years now. I am familiar with that market, so we're considering investing over there.

Welcome Judy. If you are serious about being an RE Investor then you have found yourself at the best website out there with some much knowledge and experience. Everyone freely shares their ideas and feedbacks and it's a great group to be apart of. Best of luck to you on your new adventure!

Hi Judy,

Welcome to BP, this is a great website and resource for all types of real estate investing.

I always recommend these 3 things to beginners:

1) Do a lot of research here

2) Do not spend a lot of money with coaches, it would be much better to put that money to work and learn from experience, I'm not against coaches or education, but you need to be careful as there are some that are really bad

3) There are many real estate clubs out there, visit them, select your favorites and meet other investors working your area. You can find info on clubs here and also you can look at meetup.com. Networking is key to success.

Cheers! see you around...

Thank you so much everyone! I am grateful for everyone's input! I will definitely be more active on networking events and want to connect with those who reside in Southern California. =) Let's keep in touch!!!  

@Judy Tran Aside from all the great things about BiggerPockets there are plenty of real estate investment clubs in southern California you should consider attending to meet other investors and learn from them. You just happen to live in the neighborhood of one of the best clubs in So Cal. That club is Los Angeles-Asian Real Estate Investor Association also known as LAREIA. You can find it on Meetup. It meets once a month in Arcadia. I'm not just recommending it because I've seen a listing of it - I'm a member and attend all the meetings. http://www.meetup.com/Los-Angeles-Asian-Real-Estat...

There's another very good nearby club that I attend called InvestClub for Women (and yes it's also for men) which meets in Glendale. Also nearby. It also meets in Irvine. Glendale's next meeting is tonight, Irvine's next meeting is tomorrow night. You can find that one also on meetup at http://www.meetup.com/investCLUBLA/

Good luck and see you around.

Hey Judy! I'm in LA also. Awesome for you to get started! In thinking of your questions, question back for you--what kinds of areas of REI are you interested in? That answer will affect how you can make LA work for you or how to do it, etc.

Hi @JudyTran and let me add another welcome! 

 I totally agree with @GuyOlds as far as investment clubs are concerned, and also suggest you check out FIBI on meetup and find a local chapter. You can also find several different FIBI groups, several of which focus on  a specific area of investing. 

In LA it will be a little more challenging for you to invest unless you want to be a private lender for someone, or you want to invest together with others.  I invest in Kansas City and in Kern County, 2 hours away.  It all depends also on what you, personally, mean when you say you want to "Invest" . Some buy and flip, some buy and hold (more like a longer-term  investment), some lend, some get into apartments.  Think about what it means for yo and then that will help you determine where to look for more info and knowledge. 

Happy to network anytime , too!

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