New BP member from SoCal (Los Angeles area)

New Member Introductions
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New BP member from SoCal (Los Angeles area)

Garan KamaPro Member
Lakewood, CA · Member since 2018 · 35 posts · 13 votes

Hey what's up all. My name is Garan and I currently reside in the Long Beach area of Southern California. I was born and raised in Hawaii and made my way to California after a short 4-year service in the USAF. I'm 35 years old and work for the Fire Department. I've always been interested in Real Estate investing but just wasn't wise enough or driven enough to take necessary action. The great thing is, I've always been financially responsible and "smart" with my money, so I have a decent base to start off with, not to mention the VA loan. I'm interested in multi-family investing but am also interested in SFR as well, but I am wanting to go more with out of state investing due to the rather crazy prices I see in SoCal. Anyway, I'm listening to a ton of podcasts, audible books, youtube videos, etc. I just have to compile my list of MINS do some LAPS and get on it.

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Eugene Rogachevsky
Investor · Long Beach, CA · Member since 2016 · 75 posts · 24 votes
8y
Garan Kama Welcome! I'm an investor and agent living in Long Beach. Let me know if you wanna connect. Good luck!
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  • Nabil SuleimanBusiness Member
    Real Estate Agent · Los Angeles, CA · Member since 2016 · 596 posts · 299 votes
    8y

    @Garan Kama

    Welcome to BP Garan, Thank you for your service

    [email protected]661-904-1725
    Atlas Elm | Nabil Suleiman4.47 Reviews
    WebsiteView Page
    0Reply
  • George Blower
    Retirement Accounts Attorney · Southfield, MI · Member since 2017 · 3k+ posts · 1k+ votes
    8y

    @Garan Kama

    Welcome to Bigger Pockets.

    0Reply
  • Eugene Rogachevsky
    Investor · Long Beach, CA · Member since 2016 · 75 posts · 24 votes
    8y
    Garan Kama Welcome! I'm an investor and agent living in Long Beach. Let me know if you wanna connect. Good luck!
    1Reply
  • Joe Norman
    Property Manager · Baltimore, MD · Member since 2014 · 1k+ posts · 1k+ votes
    8y

    Welcome to BP! Whenever anyone asks what I would have done different when I started out, I respond that I would have house-hacked a few homes before settling down. That no-money down VA loan is powerful if you can find a place where you can force enough equity to Refinance out into a conventional loan. Good luck and congratulations on taking action!

    1Reply
  • Garan KamaPro Member
    OP
    Lakewood, CA · Member since 2018 · 35 posts · 13 votes
    8y
    Originally posted by @Nabil Suleiman:

    @Garan Kama

    Welcome to BP Garan, Thank you for your service

     Thanks for the Welcome and it was my honor to serve.  

    0Reply
  • Garan KamaPro Member
    OP
    Lakewood, CA · Member since 2018 · 35 posts · 13 votes
    8y
    Originally posted by @Eugene Rogachevsky:

    Garan Kama Welcome! I'm an investor and agent living in Long Beach. Let me know if you wanna connect. Good luck!

     Hey! Thanks for extending the welcome and connection.  I may be contacting you soon to discuss the local markets and niches to get into.

    1Reply
  • Garan KamaPro Member
    OP
    Lakewood, CA · Member since 2018 · 35 posts · 13 votes
    8y
    Originally posted by @Joe Norman:

    Welcome to BP! Whenever anyone asks what I would have done different when I started out, I respond that I would have house-hacked a few homes before settling down. That no-money down VA loan is powerful if you can find a place where you can force enough equity to Refinance out into a conventional loan. Good luck and congratulations on taking action!

     Yeah, I did that with the current home I'm in without really knowing the house hacking term and what it entailed.  I had my roommate from my old apartment move in with me and he lived with me for about 6 years paying rent for one of the rooms.  I did refinance into a conventional loan after about a yr and a half of living in the home.  I was lucky to get the home I got at the price that I got.  The home wasn't on the market for 24hrs, he accepted my offer which was the first and only.  Thank you for your response.

    0Reply
  • Ali Boone
    Real Estate Coach · Venice Beach, CA · Member since 2012 · 6k+ posts · 3k+ votes
    8y

    Welcome Garan! What'd you do with USAF? My dad was USAF and I did lots of contract work with them back in my engineering days.

    I'm in Venice and have always bought out-of-state. Reach out anytime if you ever have any questions!

    0Reply
  • Garan KamaPro Member
    OP
    Lakewood, CA · Member since 2018 · 35 posts · 13 votes
    8y

    @Ali Boone Sorry for the very late response.  I was a Guidance and Control Specialist for the AWACS in Oklahoma.  Since you only invest out of state, can you point me in a good direction to start my due diligence?  My girlfriend is really interested in Vegas because of the 2 professional teams and expansion happening there, but I was leaning more toward the midwest.  Any direction would be much appreciated.

    0Reply
  • Bill B.
    Investor · Las Vegas, NV · Member since 2013 · 8k+ posts · 10k+ votes
    8y

    @Garan Kama

    Hey Garan,

    Vegas has better weather,  no frozen pipes or tornados. 

    Vegas doesn’t have income tax that the Midwest has. 

    Vegas has $10 BILLION in expansion over the next two years not counting the raiders or the Knights. 

    It’s not comparable to the super low end some people push in some parts of the Midwest but who wants to buy a $7500 roof or $2000 worth of appliances for a $50,000 house when they would work for a $150,000 house.  Plus we don’t do shingles. A 25 year old roof looks like an 8 year old Midwest roof. 

    Plus you can visit us by car or plane for under $200 for the weekend. 

    Good luck no matter what you choose. 

    0Reply
  • Garan KamaPro Member
    OP
    Lakewood, CA · Member since 2018 · 35 posts · 13 votes
    8y

    @Bill B. Thanks Bill.  Yes I agree with what you’re saying here.  Can you suggest a realtor with investment experience and properties.  Also, can you give me some general zip codes to both invest in or to avoid?  Thanks.

    0Reply
  • Bill B.
    Investor · Las Vegas, NV · Member since 2013 · 8k+ posts · 10k+ votes
    8y

    @Garan Kama

    There may be an advantage to an "investor's realtor" but I've used a guy I get along with that doesn't understand investing. He's willing to put in any number of offers at my price and knows the unique things I ask for that buyers will pay for in Vegas. (HOA xfer fees, HOA capital contributions, appraisals, and a few other simple checkboxes.) I told him set up a filter for 1800sf+ house, 20 years or newer, 2+ garage 3+ bed 2+ bath. That really narrows down our small market fast.

    I invest exclusively north of 95, west of 15. All but a couple are south of 215 and only one is west of 95. 

    Northeast is “rougher”, east is older. Southwest has almost all been built in the last few years. New to me. 

    It’s definitely gotten tougher. You may want to check out a list of DOM over 90 days as anything decent should have sold or at least gotten an offer in 30 days or less. Maybe they just priced it too high, could just be dirty dark and smelly. 

    Let me know if you come to town sometime and want to talk real estate over a pizza or BBQ ribs. 

    0Reply
  • Garan KamaPro Member
    OP
    Lakewood, CA · Member since 2018 · 35 posts · 13 votes
    8y

    Thanks @Bill B. you've been a ton of help already.  Will definitely let you know when I'm coming to town to see if we can connect.  

    0Reply
  • Jack Butala
    Los Angeles, CA · Member since 2014 · 2k+ posts · 515 votes
    8y

    @Garan Kama hello there and welcome to Bigger Pockets! The road map for real estate investing success can be found at Bigger Pockets!

    Connect with experienced investors and get deals done correctly on Bigger Pockets.

    Congratulations, you came to the right place.

    I wish you success.

    0Reply
  • Ali Boone
    Real Estate Coach · Venice Beach, CA · Member since 2012 · 6k+ posts · 3k+ votes
    8y
    Originally posted by @Garan Kama:

    @Ali Boone Sorry for the very late response.  I was a Guidance and Control Specialist for the AWACS in Oklahoma.  Since you only invest out of state, can you point me in a good direction to start my due diligence?  My girlfriend is really interested in Vegas because of the 2 professional teams and expansion happening there, but I was leaning more toward the midwest.  Any direction would be much appreciated.

    Due diligence in terms of researching markets? That's what it sounds like you're saying (versus due diligence on individual properties).

    I personally have never been a Vegas fan for investing. Reason being- it has one primary industry [entertainment] and that industry happens to be the first one to tank in a recession. That and most renters there are extremely transient, so that can make for a lot of vacancy and a specific dynamic in the renter pool. 

    I like the midwest- depending on what cities you're talking about- as there's more industry, etc.

    Let me know specifically what you're wanting to do due diligence on and I can try to help.

    0Reply
  • Garan KamaPro Member
    OP
    Lakewood, CA · Member since 2018 · 35 posts · 13 votes
    8y

    @Ali Boone trying to gather information on how to find out which states and cities within them are “best” or “good” to invest in.  What criteria to use and subsequent websites to use to narrow the search before reaching out to realtors and property managers for more information within that specific market.  

    0Reply
  • Ali Boone
    Real Estate Coach · Venice Beach, CA · Member since 2012 · 6k+ posts · 3k+ votes
    8y
    Originally posted by @Garan Kama:

    @Ali Boone trying to gather information on how to find out which states and cities within them are “best” or “good” to invest in.  What criteria to use and subsequent websites to use to narrow the search before reaching out to realtors and property managers for more information within that specific market.  

    I'd recommend narrowing down to the bigger metro areas on your own, and then once you get that far, talking to property managers who can advise for the micro-areas that are best to invest in. Trying to decipher all of the analysis on your own can get exhausting and there are people with boots on the ground who already know a lot of what you're wanting to figure out. So might as well use them as resources (without bombarding them, of course).

    0Reply
  • Tie Lasater
    Keller, TX · Member since 2018 · 68 posts · 47 votes
    8y
    Welcome to BiggerPockets. Thank you for your service. Multi family is great and I always look for the deal regardless the geographical. That being said it has to be a growth area or at least a strong market. We have multi families all over the US.
    0Reply
  • Garan KamaPro Member
    OP
    Lakewood, CA · Member since 2018 · 35 posts · 13 votes
    8y

    ok great.  Thanks for all the input. 

    0Reply
  • Garan KamaPro Member
    OP
    Lakewood, CA · Member since 2018 · 35 posts · 13 votes
    7y

    So I've been lurking, reading books, and listening to a ton of audible books and podcasts.  I took the plunge and paid for pro to be able to start using the calculators.  Here's an update on the steps I've recently took toward my goals of FI through real estate.  

    1. I've narrowed down some markets and sent emails (similar to @David Greene's) to realtors in Raleigh, Nashville, Boise, Kansas City, Indianapolis, and Cleveland area.  I'm waiting to hear back from them and am in touch with a realtor and lender in Cleveland.  

    2. I've started inquiring on rates for a HELOC on my primary residence in California for costs which would require more capital then what I have saved up.

    3.  I've reviewed and re-calibrated mine and my girlfriends finances to get a better idea of how much more I can save (about half my monthly income) by being more cognizant of unneeded spending and decided to work more overtime to spend on the things we want to do or to super charge my/our investment savings.

    Here's where I'm having a harder time and what I'll be trying to overcome next.

    1.  Narrowing down which market(s) are best for me to start in. 

    2.  I'm apprehensive due to a possible pullback on housing prices due to higher interest and other macro economic factors. 

    3.  Making the right connections 

    4.  Actually going to meetups and networking 

    Other than that, I'm still trying to learn and soak in as much as I can.  I know I need to take action a little more, but i'm just trying to keep lining up and knocking down dominoes.  I appreciate everyone on this website for selflessly giving knowledge and encouragement.  Just a little update and pseudo journal for me to look back on.

    4Reply
  • Steve Frye
    Real Estate Agent · Nashville, TN · Member since 2018 · 123 posts · 74 votes
    7y

    @Garan Kama your gamplan is right in line with starting to explore other markets.  That's a great list you have of target cities.  

    I can tell you from a Nashville perspective, the opportunity for both STR (top 5 Airbnb city) and LTR are strong in and around the Nashville and outlying areas. Rents in this area are strong and continue to ramp up with the surging population, huge tourism and lots of new business moving here (Amazon East Coat hub just announced).

    Our market is at a lull like the rest of the country but we're not expected to see a downturn like other markets due to the high demand.

    0Reply
  • Eddy Udry
    Real Estate Agent · Boise, ID-Idaho · Member since 2014 · 61 posts · 21 votes
    7y

    Hi Garan,

    By the sound of it you are making great moves to set yourself up when you do decide to move on a property. I leared a few things in your short intro. So thanks

    Any information or questions you may have on Boise feel free to message me.

    Best of luck

    Eddy

    0Reply
  • Allison Mueller
    Turnkey Real Estate Provider · Cleveland, OH · Member since 2017 · 52 posts · 23 votes
    7y
    Originally posted by @Garan Kama:

    So I've been lurking, reading books, and listening to a ton of audible books and podcasts.  I took the plunge and paid for pro to be able to start using the calculators.  Here's an update on the steps I've recently took toward my goals of FI through real estate.  

    1. I've narrowed down some markets and sent emails (similar to @David Greene's) to realtors in Raleigh, Nashville, Boise, Kansas City, Indianapolis, and Cleveland area.  I'm waiting to hear back from them and am in touch with a realtor and lender in Cleveland.  

    2. I've started inquiring on rates for a HELOC on my primary residence in California for costs which would require more capital then what I have saved up.

    3.  I've reviewed and re-calibrated mine and my girlfriends finances to get a better idea of how much more I can save (about half my monthly income) by being more cognizant of unneeded spending and decided to work more overtime to spend on the things we want to do or to super charge my/our investment savings.

    Here's where I'm having a harder time and what I'll be trying to overcome next.

    1.  Narrowing down which market(s) are best for me to start in. 

    2.  I'm apprehensive due to a possible pullback on housing prices due to higher interest and other macro economic factors. 

    3.  Making the right connections 

    4.  Actually going to meetups and networking 

    Other than that, I'm still trying to learn and soak in as much as I can.  I know I need to take action a little more, but i'm just trying to keep lining up and knocking down dominoes.  I appreciate everyone on this website for selflessly giving knowledge and encouragement.  Just a little update and pseudo journal for me to look back on.

     Hey Garan that is very impressive and seems like you really have things lined up for your success in the real estate world! Let me know if there's anything that I can do to assist you on this new RE adventure you are on!! Best of luck to you my friend.

    0Reply
  • Jeff Wallenius
    Specialist · Indianapolis, IN · Member since 2014 · 670 posts · 352 votes
    7y

    Hey @Garan Kama welcome to BP and enjoyed reading your post. I see your a firefighter which really caught my interest. I just took a year leave from the fire department after 17 years, to jump into real estate full time in Indianapolis. I'd be happy to assist in any way as I love connecting back to the firefighter family. I'll reach out directly.

    0Reply
  • Jeb Brilliant
    Rental Property Investor · Long Beach, CA · Member since 2015 · 623 posts · 155 votes
    7y

    Hi @Garan Kama, I live in Long Beach and invest in Indiana myself. I'd be happy to chat with you and share my connections if it would help. I also run a monthly meet up in Los Alamitos (though we're skipping December). 

    0Reply
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