Hello BP and like minded investors (I am in SoCal)

Real Estate Agent · Los Angeles, CA · Member since 2016 · 15 posts · 6 votes

This is Paula and I am so excited to start my first post and REI journey on BP! I live and work in SoCal (Silicon Beach specifically), and want to invest in SoCal as well. I have a full time job and some cash reserve and want to make my first investment purchase by the end of this year :)

I have very limited real estate experience, but want to realize my potential by meeting investors and providing value to them. In return hopefully I will learn and become a savvy investor myself. If any investor friend doesn't mind talking to a newbie, I offer all my free time apart from work and my bilingual and multi-cultural traits (born and raised in Beijing, China for 24 years).

If anyone wants to explore potential partnerships/friendships, please hit me up!

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Logan AllecBusiness Member

Accountant · Los Angeles, CA · Member since 2014 · 1k+ posts · 980 votes

10y

@Account Closed, if you're willing to invest in the less-ritzier parts of LA, you need to consider house hacking. If you do nothing else in real estate, you will have succeeded by getting into a fourplex as a young man or woman with only 3.5% down. Assuming the rents cover your expenses, in 30 years when you’re in your early 50s and the mortgage is paid off, and you’ve done the smart thing by raising the rents over the years, you will be sitting on a multi-million-dollar asset that cash flows thousands of dollars per month at the cost of a measly $20k or so out-of-pocket when you were 20-something. I can’t think of any better way for young people to prepare for their future so early on in life with so little cash out-of-pocket. Run the numbers and see for yourself.

Clarita CPA Group516 Reviews

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Kevin FoxPro Member
Real Estate Agent · San Diego, CA · Member since 2014 · 1k+ posts · 635 votes
10y
Hey @Account Closed
Welcome to BiggerPockets!
I am in SoCal as well, so please don't hesitate to reach out if you ever have any questions. What kind of investing do you plan on doing?
1 Reply
Dave VisayaPro Member
Moderator
Audio Engineer and Investor · Cebu City, Cebu · Member since 2013 · 7k+ posts · 881 votes
10y
Hey @Account Closed, welcome to BiggerPockets! It is great to have you and please feel free to jump in the community - there are certainly great people around here!
And oh, learn how to use BiggerPockets to grow your business by checking this quick guide: http://www.biggerpockets.com/biz
See you around!
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Paul Timmins
Specialist · Rockland, MA · Member since 2010 · 7k+ posts · 2k+ votes
10y
@Account Closed
Welcome. Money from your homeland will provide all the private money you will need. There is an Asian Real Estate Association email me for info my BP PM does not work see my profile. Fill in 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.
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 rehabbers (cash buyers). Find them through Google and meetup.com
Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook
Consider checking out HUD homes for small multi's owner occupied gets first crack.
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
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Account Closed
OP
Real Estate Agent · Los Angeles, CA · Member since 2016 · 15 posts · 6 votes
10y
Hi @Kevin Fox, @Dave Visaya and @Paul Timmins wow thanks for the welcome and what great advice! I sure will check out all the links and materials you mentioned :) I am open to all types of investment since I am just starting, but am currently looking at small (1-4 units) multifamily properties in the Los Angeles area. Where I live (Playa Vista) is on the more expensive side and as unwilling as I am to drive in the horrible LA traffic, I am willing to go further away to maybe Long Beach, Valley area or Monterey Park (china town area). Not considering inland empire yet but I won't rule it out completely ;)
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Logan AllecBusiness Member
Accountant · Los Angeles, CA · Member since 2014 · 1k+ posts · 980 votes
10y
@Account Closed, if you're willing to invest in the less-ritzier parts of LA, you need to consider house hacking. If you do nothing else in real estate, you will have succeeded by getting into a fourplex as a young man or woman with only 3.5% down. Assuming the rents cover your expenses, in 30 years when you’re in your early 50s and the mortgage is paid off, and you’ve done the smart thing by raising the rents over the years, you will be sitting on a multi-million-dollar asset that cash flows thousands of dollars per month at the cost of a measly $20k or so out-of-pocket when you were 20-something. I can’t think of any better way for young people to prepare for their future so early on in life with so little cash out-of-pocket. Run the numbers and see for yourself.
Clarita CPA Group516 Reviews
Website View Page
4 Reply
Account Closed
OP
Real Estate Agent · Los Angeles, CA · Member since 2016 · 15 posts · 6 votes
10y
@Logan Allec Thanks very much! And I will buy again and again and again such deals even if I have to use creative financing down the road!
0 Reply
Manolo D.
Contractor · Los Angeles, CA · Member since 2015 · 4k+ posts · 1k+ votes
10y
Paula Wang B&H is not best in those areas, you need to go on real outskirts of LA county if you want cash flow, I am thinking valencia or upper or north of 210 like glendora. If you're looking for central, a flip project will be a more enticing project. There are some investors looking for Gap funds or someone looking for passive investors.
1 Reply
Eric F.
Investor · Long Beach, CA · Member since 2014 · 22 posts · 12 votes
10y
Originally posted by @Logan Allec:

@Account Closed, if you're willing to invest in the less-ritzier parts of LA, you need to consider house hacking. If you do nothing else in real estate, you will have succeeded by getting into a fourplex as a young man or woman with only 3.5% down. Assuming the rents cover your expenses, in 30 years when you’re in your early 50s and the mortgage is paid off, and you’ve done the smart thing by raising the rents over the years, you will be sitting on a multi-million-dollar asset that cash flows thousands of dollars per month at the cost of a measly $20k or so out-of-pocket when you were 20-something. I can’t think of any better way for young people to prepare for their future so early on in life with so little cash out-of-pocket. Run the numbers and see for yourself.
The strategies 4-plexes hold from financing to development and everything in between are some of the best. Agree 110% with this!
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Account Closed
OP
Real Estate Agent · Los Angeles, CA · Member since 2016 · 15 posts · 6 votes
10y
Good points @Manolo D.! I will look more into flipping and run/find out the numbers. I am really passive in my own opinion but it doesn't mean that can't change. Thanks for the advice!
0 Reply
Leslie Pappas
Professional · San Francisco, CA · Member since 2014 · 876 posts · 301 votes
10y
Best of luck to you!
0 Reply
Jill DeWitPro Member
Investor · Scottsdale AZ · Member since 2015 · 1k+ posts · 423 votes
10y
Hello @Account Closed and welcome to BP. BP is the place to be for real estate investors! BP has everything under the sun when it comes to REI information. BP offers free online videos and educational courses as well as it's own podcast in itunes. You came to the right place and I wish you all the best.
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Account Closed
OP
Real Estate Agent · Los Angeles, CA · Member since 2016 · 15 posts · 6 votes
10y
@Eric F., @Leslie Pappas and @Jill DeWit Thanks very much! I am really excited to start my REI journey from BP!
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