Los Angeles, CA · Member since 2017 · 2 posts · 0 votes
Hello everyone! This is Sayler. My soon-to-be wife Catharine recently signed up for Bigger Pockets. We are both very interested in having real estate as our primary source of income. I currently own a vacation rental and Cath is looking for her first property. She is a professor and I'm in healthcare.
West Hollywood, CA · Member since 2016 · 235 posts · 72 votes
9y
Welcome Catharine and Sayler!
Bigger Pockets is loaded with all the information you will need to succeed in whatever niche of real estate investing you wish to pursue and the community is filled with knowledgeable investors and professionals to learn from and connect with.
Listen to the podcast for extra inspiration and investing advice and post in the forum for any questions you have. Like you, I am living in Los Angeles, but I focus on investing out of state.
If you have any questions about out of state investing, please connect with me and good luck on your journey!
Birmingham, AL · Member since 2014 · 875 posts · 947 votes
9y
Welcome @Catharine Christof and Sayler! You're in the right place to learn the ropes and meet like-minded folks. Most people here have the same goal as you - independence through Real Estate! With one property already under your belt, you're a step ahead of the game, so well done!
There is a ton of information on BP and the number of options can be...daunting. If you haven't chosen an RE niche just yet, I always recommend that new investors consider their priorities with regard to Risk, Control, and Time before jumping in. Since you both work and are getting married soon (congrats!), what you can reasonably accommodate in your life right now may limit the types of investments that work for you. I'd advise that, once you get an idea of the options that are out there, you have a heart-to-heart about some important questions.
Are you able to secure financing to leverage your existing capital? If so, are you comfortable with that additional risk? What are your risk/return priorities? Are you willing to bet on a riskier investment that potentially has higher returns (like a new tech stock) or do you want something that provides consistent income with lower risk but less upside potential (like a Blue Chip Dividend Aristocrat)? Do you need to be near your investment to feel an acceptable level of control or are you willing to go out-of-state if the numbers are better? How much time are you willing and able to put in to your investment once it's made? All investments require serious due dilligence, but are you interested in DIY investing, like flipping or wholesaling? Can you reasonably accommodate the responsibilities of things like self-marketing, management, rehabbing, or are you willing to sacrifice a bit of your return to have that taken care of for you?
The answers to these questions are really going to narrow the field and help you hone in on the type of investment that suits you best right now. And that might change down the road - the type of RE you go into now doesn't have to be the end-all be-all of your RE career, but I see a lot of people get really excited about niches that just aren't doable for them at the current moment, and it always ends in frustration. Be honest with yourselves about your priorities and limitations, and trust your gut.
If you have any questions about the turnkey model or the Birmingham market, feel free to reach out any time.
Investor · Palatine, IL · Member since 2015 · 69 posts · 31 votes
9y
Your fiancee made a great choice. This site has a lot of friendly people who just want to see others succeed. I love L.A. and would like more reasons to visit. If you have any questions about leasing, tenants, etc., that is what I know the most about so please feel free so message me with any questions.
Hello everyone! This is Sayler. My soon-to-be wife Catharine recently signed up for Bigger Pockets. We are both very interested in having real estate as our primary source of income. I currently own a vacation rental and Cath is looking for her first property. She is a professor and I'm in healthcare.
Residential Real Estate Broker · Culver City, CA · Member since 2016 · 3 posts · 2 votes
9y
Welcome to BP! As everyone already stated above, you have come to right place to learn about RE. Two people are better than one. Getting married, learning as fast as you can about RE investment, and acting on it before having children in order to position yourself to have more time for them when they arrive should be your motivation.