Newbie from Lake Havasu City, AZ

Newbie from Lake Havasu City, AZ

Lake Havasu City, AZ · Member since 2017 · 58 posts · 23 votes

Hello everyone,

My name is Mike and I have been a lurker on here on and off for about a year. I have been around real estate investing since I was a kid (I did not know it at the time). Growing up my Dad owned a fourplex in a C neighborhood and I would help him with odd jobs there growing up. I am now 27 years old and moved to Lake Havasu City seven years ago for a job. I am a journeyman maintenance electrician at the dam here. I have been learning as much as I can about investing and have been focusing on RE for the last year as I have been interested in purchasing a home. I purchased a SFR here in Lake Havasu City a few days ago and will be using it as my primary residence for the next year or so. I would like to rent this home out at some point to help pay the mortgage off faster or until I find another deal. I am currently looking into multifamily homes here, mainly fourplexes and duplexes. My goal is to have an alternate income stream to my career that is mostly passive (long shot I know) as I work a steady 40hrs per week. So far I have read both BP books, I just bought Jay Scotts book on estimating rehab costs, I am on podcast 33 out of 300 something (just found these), reading BP as much as possible, and trying to learn my market. The more I learn about my market the more I learn how bad it is regarding RE investing. I am looking forward to engaging more with this community!!

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  • Real Estate Investor · Lake Havasu City, AZ · Member since 2015 · 72 posts · 60 votes
    9y

    Hi @Mike Hottinga I am an investor in Lake Havasu, I have done many different types of RE investing here.  I would love to get together with you, maybe lunch or breakfast.   I started with flips and now am working with RE notes and new construction.  Like many realestate investors, I started with very little and built a full business out of it.  I agree that the local market isn't necessarily as good for many types of investing. but that being said on of my recent deal produced a pretty good amount of immediate cash as well as passive income that will comefor years to come.  I am an open book and love to work with others and help people as much as I can.  

    Feel free to reach out anytime,

    -Waylon

  • Lake Havasu City, AZ · Member since 2017 · 58 posts · 23 votes
    9y

    Thanks @Waylon Gates. It would be awesome to get together for lunch some time. I would love to pick your brain about the market as you have a much better understanding of it than I do. I know there is opportunity in every market, you just have to find it. Lake Havasu is definitely a unique market place and an unusual one to start RE investing in as a beginner. I work an unusual schedule as it is a 4/4/8 and do not have the same days off every week. Let me know of a window that works for you and we can nail something down. I am off 17-19 this weekend if any of those days work for you.

  • Dave VisayaPro Member
    Moderator
    Audio Engineer and Investor · Cebu City, Cebu · Member since 2013 · 7k+ posts · 881 votes
    9y

    Hello @Mike Hottinga , 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!

    BiggerPockets
  • Professional · Carlsbad, CA · Member since 2012 · 12k+ posts · 1k+ votes
    9y

    @Mike Hottinga

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

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