Aspiring Real Estate Investor from CA

7 Replies

Hi everybody! My name is James and I live in San Luis Obispo, CA, the happiest town in America, according to Oprah and many other people. I am 26 and married my beautiful wife last June and am loving life right now. 

I have wanted to invest in real estate ever since I was 18 but was never motivated enough to really get after it until recently, when I got married and started to think about how I would provide for my family in the future and have the type of life that I envision for us. The path that I want to take is a Buy and Hold strategy. I live in a very tough market to get started out in and that doesn't cash flow as much as appreciate. I am looking into investing out of my market, either in state or out of state. I am an absolute beginner trying to absorb information via Biggerpockets, books and podcasts. Thank you all for the great articles and posts on this site, it will help jump start my REI career and I truly cannot thank you enough! Hope to make connections and have the opportunity to network with everyone!

James

@James Berry

Welcome to the site James.  My wife and I are down the freeway from you in Ventura County.  Although we don't really do much with buy and holds, please let me know if there is anything else that we can do down here to help you get started. 

Welcome @James Berry .  I'm working my way through the podcasts right now as well.  They're invaluable.  I have also been reading some of the books recommended by podcast guests.  The ones you hear over and over again are definitely worth checking out.  

I agree with you that buy and hold is the way to build wealth over time.  I think that's the endgame for any investor, but other strategies may work to build up a "cash mountain" so you can afford to invest in SLO one day.

SLO is expensive, but there may be some opportunities just south in Santa Maria/Lompoc that have lower entry points.  Personally, I'm skeptical of investing out of state and would do a lot of research before jumping into that.  Different strokes for different folks though.  For me, I would be hesitant to purchase a property that I could not (or would not) move into if times get really tough (at least for a first property).  

Hi @James Berry , welcome to BP! I'm right up the road from you in Atascadero, and have similar investing goals and hopeful strategy. I've been considering investing out of state as well but I'm still trying to figure it all out. 

If you're interested, there's a local REIA that has meetings about every month. I haven't been able to go yet, but I'm sure it's a great source of information and experience as well: http://www.meetup.com/CC-REIA/

@Charlie Fitzgerald  Thank you! I plan on learning as much as possible! I am excited to have found a community online that is willing to help each other out so freely!

@Cornelius Charles I love Ventura County! I feel so blessed living on the Central Coast, it is a special place! I might just take you up on that offer!

@David Tipton They really are invaluable! I am currently going through The Smart Passive Income and Epic Real Estate Investing podcasts. I haven't gotten to the BiggerPockets Podcast but do plan to listen to it soon. 

I definitely am open to other forms of investing but just have not researched wholesaling and "fix and flip" as much as "buy and hold" yet. I will definitely be looking into the Santa Maria/Lompoc area and if the numbers work I would much prefer to invest there, than out of state. Just have a lot of hard work to put in before I can nail down my exact strategy.

On a side not I would love to be able to "house hack" a multifamily property for my first property! That would be ideal for me to start out!

@Antonio Coleman Thanks for taking the time to read and comment on my post! I hope to network as well!

@Matthew Pauls It is great seeing other locals active on this site! I have seen this meetup too, almost went to the last meeting but I ended up being out of town. Let me know if you ever want to meet up or if you plan on going to the meetup, I am planning to attend one soon. Would be great to bounce some ideas off of each other maybe.

Thank you all for the warm welcome to BiggerPockets! I hope to see you all in the forums! Happy Holidays!

I love SLO! lots of land, weather, beach, and relaxed people. I have a 68 window replacement job there still on-going for the Dept of Agriculture. I asked a couple of folks and a veterans group at near pismo beach, RE is a great place to build and acquire land. Although expensive, it still is a good retirement area. ;) Good luck on your journey.

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

We hate spam just as much as you