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Wesley Duvall
  • Sacramento, CA
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New discouraged investor in Sacramento

Wesley Duvall
  • Sacramento, CA
Posted Oct 26 2016, 13:26

Hello to all and a big thank you to BP. I've been a member here for over 2 years and never posted but I've done a ton of reading. A little about me and my situation. I'm mid 40's, work a pretty time consuming job, and I'm looking to pull some cash out of my home to begin investing. I will have 30-40k to begin with. 

My discouragement comes from listening to podcasts where Joe Investor buys a duplex for $80k and his net cash flow is $600 a month or the famed 2%. The market in the Sacramento area is very competitive. Duplexes in far less than desirable neighborhoods are 150k+ and I dont see rents that support most properties i would be willing to buy as a new investor. I'm not stuck on multi family properties but this is just an example as many of you know who are from this area that unless you're a cash buyer or a retail/primary residence buyer it's a difficult market. BRRR seems almost out of the question unless I come across something that's off-market.

I've looked into out of state turn-key opportunities that would bring in cash flow but then all my capital is tied up in those properties at least in the near future and would prevent any resemblance of an aggressive investment strategy that I need to have to build wealth before retirement. 

Maybe find a wholesaler? Or? I would like find something that would allow me to perpetuate investing. I would really like to attend some local meetings but they usually occur on days that I work but I hold out hope to attend someday. 

Thanks for reading my rant and again thanks for any help. Happy investing.

Regards,

Wes 

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