New member willing to invest in California

[Alain Chautard]

Hi, my name is Alain (or just Al) and I'm working on my first real estate investment in the Sierra Nevada. I live in the Sacramento area.

Right now my goal is to create a LLC that would take on loan for at least $150K. I'm not sure how to get there though as commercial lending and hard money lenders seem to focus on short term loans, while I'm looking for mortgage-like monthly payments.

Here's where I am for now!

[Jack Martin]

I would reconsider forming an LLC for your needs; you are starting out and as an investor you have many options. First of all; consider buying a duplex, triplex or quadplex. Live in one unit and rent/manage the other three. You then can get an owner occupied conforming loan with as little as 3.5% down in "A" paper pricing. Since you are in the Sacramento area; consider buying a HUD Repo; I did that and got in for no down. Later I rented it out, and recently sold with $200,000 cash, am buying a Memphis office building with 4X cash flow that I was getting in California. Take baby steps with short and long term goals. Listen to the podcasts from other investors who have succeeded in building their rental portfolio.