New Member from California

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New Member from California

Lance Kamiyama
Los Angeles, CA · Member since 2015 · 9 posts · 5 votes

Hi All,

I am a new investor currently living in West Los Angeles area. Since graduating from college in the midwest, I have been working professionally for a handful of years now as an engineer. I've read the books and listened to the podcasts, and now I'm ready to take control of my financial future and begin to establish a real estate portfolio. 

I am in search of high cashflow and potential growth areas, both locally and out of state. Out of state wise, I have states such as Tennessee, Texas, Florida, Indiana, and Michigan on my radar. I am open to both multifamily and SFR, depending on what opportunities present themselves. I would like to aim for <$200K price point for my first purchase.

I'd be happy to hear from anyone that wants to share any experiences they have had, both good and bad. Right now I'm just trying to educate myself and build a network. Thanks in advance!

-Lance

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Ben Roberts
Rental Property Investor · Memphis, TN · Member since 2015 · 203 posts · 135 votes
10y

@Lance Kamiyama Welcome to BP! I'm a wholesaler in Memphis, TN.  If you decide that you'd like to invest in the area, and would like some boots on the ground, please let me know.  I work with a number of other investors just checking out properties, looking at the neighborhood, that sort of thing.  Let me know if I can help.

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  • Lance Kamiyama
    OP
    Los Angeles, CA · Member since 2015 · 9 posts · 5 votes
    10y

    Hi @Joe Moore, thanks for the kind words. I am all about due diligence!

    0Reply
  • Lance Kamiyama
    OP
    Los Angeles, CA · Member since 2015 · 9 posts · 5 votes
    10y

    @Tom Ott, I agreee, BP has taught me so much already. I went to Purdue University. I feel like that area has some good potential because of the student housing demand. 

    1Reply
  • Lance Kamiyama
    OP
    Los Angeles, CA · Member since 2015 · 9 posts · 5 votes
    10y

    @Sean OToole, thanks for the advice. That is my biggest concern about investing out of state. I'm curious where you have found success here in CA? 

    0Reply
  • Sean OToole
    Investor · Truckee, CA · Member since 2013 · 546 posts · 445 votes
    10y

    @Lance Kamiyama as you are searching for "high cashflow" there are only two ways to do this:

    1. Find areas that naturally have high cashflow.

    or

    2. Find better deals in areas with low cashflow.

    No question the second one is much harder - just finding "motivated sellers" is hard, and there is also a lot more competition. That said, when you pull it off, you've really hit a homerun - good cashflow and a great market. As hard as it is, people do it every day, even in some of the hottest markets in CA.

    Bottom line, if you get really good at the how, the where becomes less important.

    Lots of posts here on BP about how to find motivated sellers, but I think an easy way to start it by driving for dollars. Look around and investigate run down properties in neighborhoods around where you live. You'll learn a lot about those neighborhoods, about how to find owners on vacant homes, about title, and lots of other things in the process.

    1Reply
  • Lance Kamiyama
    OP
    Los Angeles, CA · Member since 2015 · 9 posts · 5 votes
    10y

    @Sean OToole, great stuff. Thanks for the advice. 

    *getting in car now*

    1Reply
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