Hello from Los Angeles

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Hello from Los Angeles

Stephanie Nguyen-Lieu
Investor · Long Beach, CA · Member since 2017 · 5 posts · 4 votes

My name is Stephanie. I've always been interested in real estate and I'm just now really getting into it. I bought my first (and only) property in LA County in 2012 and lived in it for almost 4 years. I'm currently renting it out and it's paying for itself now. I moved in with family to save up more money to buy a second property. I'm hoping to build my portfolio with buy and hold properties but I'm open to flipping. I'm not in a rush to buy but I'm definitely going to jump on deals that are too good to pass up.

I have a full-time job and am trying to invest in real estate on the side. I'd like to grow my portfolio to the point where it can match my primary income so that my retirement plan can supplement my real estate income.

I found Bigger Pockets after buying and listening to an Brandon Turner's "The Book on Managing Rental Properties" after I had moved out of my condo and was prepping it to be rented out. I'm glad there's a community that helps rookie investors like me get started. Looking forward to learning and contributing to this forum.

-Steph

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Rae Remer
Real Estate Agent · Atlanta, GA · Member since 2013 · 44 posts · 4 votes
9y
Hey step
1Reply
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  • Rae Remer
    Real Estate Agent · Atlanta, GA · Member since 2013 · 44 posts · 4 votes
    9y
    Hey step
    1Reply
  • Account Closed
    Investor · Baltimore, MD · Member since 2015 · 123 posts · 38 votes
    9y

    @Stephanie Nguyen-Lieu Hi Steph! Congrats on your Journey. Sounds like you have a general idea on what you would like to accomplish. Keep Learning as much as you can. There is an array of education and experienced individuals on here who would loved to help you out. I have learned a ton on here myself. I would say just never stop learning and asked as many questions as you can. There is no such thing as a "dumb" or "bad" question. Keep up the Nice work! Good luck on your journey! 

    1Reply
  • Kiersten Vance
    Real Estate Agent · Redlands, CA · Member since 2016 · 253 posts · 115 votes
    9y
    Hello Steph! Welcome to BP. This is a great community for learning more about real estate. I am in a similar situation to you. I bought my first property in 2011 and lived there for a while to start with. I got my real estate license in 2012 and have continued to invest since then! I live in Cypress right next to you in Long Beach. I would be happy to chat or meet up for coffee if you would like sometime!
    1Reply
  • Stephanie Nguyen-Lieu
    OP
    Investor · Long Beach, CA · Member since 2017 · 5 posts · 4 votes
    9y

    Thank you Rae, Dwayne, and Kiersten for the warm welcome!

    @Dwayne wheeler I'll make sure to ask as much as I can. Thanks for the advice!

    @KierstenVance Very cool! I'd love to discuss our experiences and strategies for the future. 

    0Reply
  • Ali Boone
    Real Estate Coach · Venice Beach, CA · Member since 2012 · 6k+ posts · 3k+ votes
    9y

    Welcome to BP! I'm not far from you...just up in Venice. I have a lot of friends down in LB so I'm down there every now and then. 

    You'll be hard-pressed to run across any deals around here that are "too good to pass up" right now, unfortunately. Prices are sky-high. 2012 was definitely a better year to buy in. Things have only gone up since. So just be careful on the numbers as you shop around. I've always bought out-of-state for cash flow (none here) but have recently been looking for both residential and commercial opportunities around here for someone else. It's not pretty. Out-of-state is still fine, but everywhere is high on the prices right now relative to how they were in 2012 (and the prior years that were more of the crash years). 

    1Reply
  • Upen PatelPro Member
    Lender · Nationwide Lender · Member since 2015 · 1k+ posts · 814 votes
    9y

    Hi! @Stephanie Nguyen-Lieu Welcome to BP.

    [email protected]571-200-6180
    1Reply
  • Mark Nolan
    Professional · Carlsbad, CA · Member since 2012 · 12k+ posts · 1k+ votes
    9y

    @Stephanie Nguyen-Lieu

    Welcome to Bigger Pockets. A great resource is the webinars section of the website. https://www.biggerpockets.com/proreplay

    1Reply
  • Bradley De comarmond
    West Hollywood, CA · Member since 2016 · 235 posts · 72 votes
    9y

    Welcome to Bigger Pockets, Stephanie!

    BPis 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 due to the far higher returns.

    If you have any questions about out of state investing, please connect with me and good luck on your journey!

    - Brad

    1Reply
  • Stephanie Nguyen-Lieu
    OP
    Investor · Long Beach, CA · Member since 2017 · 5 posts · 4 votes
    9y

    Thanks everyone. Ali, Brad, I may have to start looking out of state as well. I just have reservations about risks associated with investing in a market I'm not familiar with. I guess that's where BP and alot of research come in. 

    0Reply
  • Walter Roby jr
    Rental Property Investor · Encino, CA · Member since 2016 · 324 posts · 178 votes
    9y

    Welcome to BP and keep at it!

    1Reply
  • Val C.
    Rental Property Investor · Los Angeles, CA · Member since 2016 · 57 posts · 8 votes
    9y

    @Bradley De comarmond hi I'm val really interested in buying a multi family by the end of the year. Working on my fico right now (590) I live and own a house in montebello ca. Free & clear. Thinking about pulling a equity loan out for a down payment on a multi. And maybe even live in one of the units. Or do you think for my first investment should be out of state property? Thx val

    0Reply
  • Iverem Rose
    Real Estate Agent · Brooklyn, NY · Member since 2014 · 250 posts · 60 votes
    9y

    @Stephanie Nguyen-Lieu

    Welcome to BP, Stephanie!

    1Reply
  • Stephanie Nguyen-Lieu
    OP
    Investor · Long Beach, CA · Member since 2017 · 5 posts · 4 votes
    9y

    Thanks everyone!!!

    @Ali Boone The more I look the more I'm realizing that Los Angeles and California aren't adding up to be a pretty picture for investors. I'm open to the idea of out of state investment... right now I'm researching Florida, based on @Bradley De comarmond 's recommendations, as well as Georgia and Texas.

    0Reply
  • Jeff Wallenius
    Specialist · Indianapolis, IN · Member since 2014 · 670 posts · 352 votes
    9y

    @Stephanie Nguyen-Lieu welcome to the site! Out of state investing is great, but there are some definite pitfalls to be aware of. Make sure you do plenty of homework on your turnkey provider! We invest in about 9 different markets and Florida is a great place for some potential appreciation in and around Tampa and Orlando. Happy to provide references if needed.

    1Reply
  • Account Closed
    Investor · Bushnell, FL · Member since 2016 · 456 posts · 224 votes
    9y

    @Stephanie Nguyen-Lieu

    Welcome to bigger pockets ..I applaud you for moving home to save money to better your future .. i also applaud your parents ..lol.. I love my parents very much but I woukd rather live in my truck than move back home but I am a bit older also ..I stayed with them     ( in Michigan ) last year for almost a month, when my mother had to have a kidney removed because of cancer ( she is doing very well now ) and it felt great to be able to help them but, I really missed my home here in Florida..anyway .. There are big concerns when investing out of state .. I tried a few years ago in Ga. I was only a 6 hr drive from my investment property .. I bought it to flip it , not to rent it out .. i found it very difficult to complete the rehab because i did not know anyone i could trust in the area ... Didn't even know the area when i bought it .. the only saving grace is that i bought it at the bottom of the market and even though i never completed the rehab ..because life in florida happends and priorities took the place of the rehab .. so three yrs of holding it and sitting empty .. sure i visited it once or twice a yr  .. when ever the code enforcement sent me letters .. I ended up selling it for a tidy profit even after holding costs but, thats because i bought it so cheap and it was in a great area of Stone Mnt. ..they always say Location , location , location ... and that brings me to my next point ... location ... when buying in a area you do not know ..your taking a chance that the company your dealing with is pulling wool over your eyes .. i would suggest you consider finding someone that can look out for your interests .. a boots on the ground type of guy .. out of stare investing can be very rewarding but there are challenges .. if you would like to talk more to me about how i have helped other investors navigate most of these challenges , just send me a colleague request and ask away .. I can tell you how some of the investors i work with have set things up like contracts between us and what the expectaions for them to me and me to them .. but either way i would highly suggest you have someone that can at the very least visit any potential investment property you are interested in .. i wish you the very best ..

    God Speed, 

    Michael Short 

    0Reply
  • Rolanda Eldridge
    Investor/Realtor · Hoover, AL · Member since 2010 · 1k+ posts · 459 votes
    9y

    Welcome to BP @Stephanie Nguyen-Lieu...A great Resource!

    0Reply
  • Scott Matthew C.
    Real Estate Broker · MI · Member since 2014 · 594 posts · 183 votes
    9y

    @Stephanie Nguyen-Lieu , enjoy the journey! Glad you could join us! I wish you the best!

    0Reply
  • Shiloh LundahlPro Member
    Rental Property Investor · Gilbert, AZ · Member since 2016 · 3k+ posts · 4k+ votes
    9y

    @Stephanie Nguyen-Lieu welcome to BiggerPockets. It is a great site for education and networking. Take advantage of it as much as you can.

    480-206-1209Podcast Guest on Show #287
    0Reply
  • Ali Boone
    Real Estate Coach · Venice Beach, CA · Member since 2012 · 6k+ posts · 3k+ votes
    9y

    Hey! Yeah, lots of options out-of-state. However, FL and TX have some of the highest property taxes and insurance, so you'll see a huge hit on cash flow in both of those. Most cities in FL won't cash flow at all, Jacksonville is the only potential there really. TX has Houston and Dallas as options, but those will be minimal. Dallas, for example, has housing prices higher than what they were pre-recession. Prices are high so returns are low. Similar with Houston, and inventory is low. Atlanta has cash flow options but I honestly don't recommend it right now. The boom long-hit there already and prices there are significantly higher now and returns have shrunk quite a bit. While doable, there are markets out with higher returns. Philly, Chicago, Kansas City, Indianapolis...

    Happy to talk more about markets if you want to shoot me a message or email me anytime. Talk soon!

    0Reply
  • Robert Davalos
    Flipper/Rehabber · Wichita falls, TX · Member since 2017 · 45 posts · 2 votes
    9y
    Ali Boone hello Ali I'm from LA California. I'm stationed in Germany and we'll be getting reassigned to Texas this month I'm looking forward to it because it is a good place to start as a real estate investor. But before I go to Texas I will have about a month of leave to relax and enjoy some family time. I would also like to take the time to talk to a couple real estate investors while I'm home. My brother stays in Venice beach and I Usually stay at his place until I have to go back to work. My goal is to be financially free by owning multiple Rental properties. The vision of having that passive income sounds amazing! Ma'am would you like to meet up? I would be honored to talk to a professional RE investor & to learn about your real estate strategies.
    0Reply
  • Iverem Rose
    Real Estate Agent · Brooklyn, NY · Member since 2014 · 250 posts · 60 votes
    9y

    @Stephanie Nguyen-Lieu

    Welcome Stephanie!

    0Reply
  • Dmitriy Fomichenko
    Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    9y

    @Stephanie Nguyen-Lieu

    Welcome to the BP family! Here are some recommendations for you:

    Find and connect with other BP members that are in your area: http://www.biggerpockets.com/meet
    Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/alerts
    Read Beginner’s Guide: http://www.biggerpockets.com/real-estate-investing
    Check out BP Podcasts: http://www.biggerpockets.com/renewsblog/category/podcast/

    Wishing you the best!

    0Reply
  • Ali Boone
    Real Estate Coach · Venice Beach, CA · Member since 2012 · 6k+ posts · 3k+ votes
    9y

    @Robert Davalos Cool, keep me posted on when you're here.

    1Reply
  • Matt R.
    Sherman Oaks, CA · Member since 2013 · 3k+ posts · 2k+ votes
    9y
    Originally posted by @Stephanie Nguyen-Lieu:

    My name is Stephanie. I've always been interested in real estate and I'm just now really getting into it. I bought my first (and only) property in LA County in 2012 and lived in it for almost 4 years. I'm currently renting it out and it's paying for itself now. I moved in with family to save up more money to buy a second property. I'm hoping to build my portfolio with buy and hold properties but I'm open to flipping. I'm not in a rush to buy but I'm definitely going to jump on deals that are too good to pass up.

    I have a full-time job and am trying to invest in real estate on the side. I'd like to grow my portfolio to the point where it can match my primary income so that my retirement plan can supplement my real estate income.

    I found Bigger Pockets after buying and listening to an Brandon Turner's "The Book on Managing Rental Properties" after I had moved out of my condo and was prepping it to be rented out. I'm glad there's a community that helps rookie investors like me get started. Looking forward to learning and contributing to this forum.

    -Steph

    Smart move buying in LA. The top 3 cities nationally for total returns ( cash flow + equity) since 2000 are LA, SF and San Diego. Good luck with your new search!

    1Reply
  • Robert Davalos
    Flipper/Rehabber · Wichita falls, TX · Member since 2017 · 45 posts · 2 votes
    9y
    Ali Boone Roger that ma'am. I'll shoot you an email thanks, and best regards
    0Reply
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