Newbie from Long Beach & Orange County – California

Newbie from Long Beach & Orange County – California

Long Beach & Orange County, CA · Member since 2018 · 11 posts · 7 votes

Long time lurker for some months now, and taking the big plunge of posting my first introductory post. This may be a bit of a long intro, so thank you for reading. My name is Matthew and I am a complete novice with no real estate experience at the moment, but I want to change that by bringing value in any way I can. I am from Huntington Beach Orange County California, and I currently live in Long Beach California. I currently possesses a J-O-B as a human resources benefits administrator for a nationally based tech. company located in Irvine California.

Current goals are still being defined, reading the "One Thing", to clarify those goals in relationship to my REI aspirations. Ultimately what I want to do and get into is buy and hold REI to start and see where that takes me, and eventually quit my day job. I do have a monetary figure of an income I want to achieve per month in regards to that. However, as I am still in my education phase right now I am just reading books, which I started to do in late February of this year and completed the following:

“Ulimate Beginner’s Guide”, “Richest Man in Babylon”, “The Book on Rental Property Investing”, “The Book On Investing in Real Estate in Real Estate with No (And Low) Money Down”, and “The Millionaire Real Estate Investor”. I am about to start “The Unofficial Guide To Real Estate Investing”. Plus, I have read like 7 Kiyosaki books 10 years ago or so.

I have probably listened to at least over +40 hours of the BP podcast at this point maybe even more. Now for a little backstory time:

I've been wanting to get into real estate since 2005 when I read "Rich Dad Poor Dad" while I was serving in the U.S. Air Force, and back then BP was barely coming into existence, and I didn't know about it back then. It seemed like during that time any type of way to get into the REI scene as a novice was to sign up for some $20,000 guru/coaching seminar, which I could not afford then nor can I afford that now. Also there were a lot of scams presented that I saw prior to the 2008 bubble burst, and so I became a tad bit jaded, leery, and deterred to get started.

Finally again, if you read this far then I thank you, I have now come to realize that I need to have the gumption to get out and make moves with networking and doing something. I am eager, but due to inexperience I lack some degree of confidence. So next possible steps:

  • 1. Continue to educate myself and define direction (Still figuring out where to start, ex. markets, SFR or Multi, etc.)
  • 2. Network (attend local REIs and engage through BP)
  • 3. Start looking for and analyze deals based on focused criteria
  • 4. See if I can help put my first deal together
  • 5. Make Offers with suitable financial backing with appropriate exit strategies in mind
  • 6. Close and Maintain
  • 7. Repeat until I can do it full time and quit my day-job.

Any guiding advice, encouragement, or wanting to say hello to me would be greatly appreciated. Again, I want bring value to others in any way I can. I will admit this place is a tad bit overwhelming. Plus, I am interested in sharing my challenges and brainstorming solutions with others. Thanks!

-Matthew

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  • Brandon SturgillBusiness Member
    Real Estate Broker · Columbus, OH · Member since 2013 · 3k+ posts · 1k+ votes
    8y

    @Matthew Runfola welcome. My only advice to you would be to keep in mind success is not found or made on the BP forum. I am typically applying counter-intuitive concepts to most things...so, this is likely the only time you will hear this. I would say that you have a very long road ahead of you so leverage your resources and skill set any way possible. Set goals (with the understanding they will change)...don't go overboard here. 20-years out, 5-years out, next 6-months. And define your asset class and investing style in alignment with your interests and abilities. Peace. 

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  • Jo-Ann LapinPro Member
    Loan Officer · Tustin, CA · Member since 2015 · 3k+ posts · 713 votes
    8y

    Welcome and thank you for the great introduction . You should look up Lloyd segal and go attend his weekend boot camp tjatvwould another feather in your cap.

  • Joe HomsBusiness Member
    Flipper · Mission Viejo, CA · Member since 2014 · 2k+ posts · 1k+ votes
    8y
    Matthew Runfola welcome to BP. If you ARE truly ready to start let me know. Gain knowledge that is usable locally and then put that to use anywhere you can. I would definitely attend some local Free Meetups and network with like minded individuals who are willing to help you. You can read until you are blue in the face, but nothing speaks louder than actions. Good investing.
  • Long Beach & Orange County, CA · Member since 2018 · 11 posts · 7 votes
    8y

    @Brandon Sturgill. I appreciate the advice, and I absolutely agree with you about the method for success. I look at BP and the forums as tools and resources in the same way a baseball player looks at a baseball bat and glove. All of it serves a purpose. I appreciate your perspective on goals and I feel they are succinct and accurate in regards to assessing and approaching them. What kind of REI do you specialize in and or do? Also for how long have you been doing it? Feel free to direct message me with a response if you like. I always like to learn more.

    @Jo-Ann Lapin. Thank you for input and welcome. I am not sure if I am just quite ready for a boot camp, but I am open to hearing more about it and doing some research before considering to committing to such an endeavor.

    @Joe Homs. Thank you for the warm welcome as well. I feel like I am truly ready in many regards, but again I understand I have a good long ways to go as well. However, I want to start taking action, but with some form of a modicum sensible approach. I did just attended my first REI local meeting last night, and it was nice actually hearing people talk about it in person as opposed to just reading about it or listening to a podcast about it. I am definitely going to attend more. Do you do just solely flipping, and if so, is it all in Southern California or other places? How long have you been doing REI? Feel free to direct message me with a response if that's alright?

    Thank you all again for the responses. I am looking forward to getting more out of this place. 

    -Matthew

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