Hey BiggerPockets, thought I'd give a quick intro.
I left my rat race job in Wall Street about 6 months ago to become a fulltime RE Investor.
I'm rather fortunate as my parents have been doing this for about a decade, and have about ~30 homes in the portfolio. So I'm thankfully not going into this completely blind. I'm currently doing an intensive learning of RE Investing, property management and construction. While my folks have done very well for themselves using as little risk as possible, I know that we can do much better with the appropriate amount of leverage as well as out of state opportunities.
I spend about 2-3 hours a day educating myself/reading/listening to RE podcasts, and try to analyze about 2-3 properties each day. I've taken over about 90% of all landlording duties of the family portfolio. We (our family) have our own RE agent license/brokerage, as well as a background in construction/general contracting. So access to MLS as well as good contractors/subcontractors, GC license, and general know-how regarding repairs/maintenance/building things.
My goal is to buy & rehab my first property within the next 2-3 months, and another two deals hopefully before the summer of 2019. Longterm strategy is to buy and hold, and eventually move into commercial properties.
If you're in the area I'd love to connect and talk shop!
Welcome to BP @James Yoo and congratulations on your transition to RE full time. There are tons of resources here to help you on your journey.
One of the RE Meetups on September 12 referenced by @Anthony Rosas may be the one hosted monthly in Sherman Oaks, CA
Below is a link in case either of you would like to attend an informative presentation with networking in a relaxed setting
Thanks @Anthony Rosas, appreciate the welcome. I'll at this meetup in Long Beach on Sep 12th: https://www.meetup.com/Out-of-State-Multifamily-Apartment-Investors-Meetup/events/250364203 so if you're there, let's say hi and chat!
@Jeffrey Isenberg thanks for the warm welcome Jeff, I'm very excited to be involved in RE. I will not be able to attend that meetup in Sherman Oaks, as there is another one on the same date/time in Long Beach that I've already committed to. But i'll be on the lookout for more in the future, and I'm sure I'll run into you at some point soon.
I'd definitely enjoy to see your journey as you step into REI.
Might I ask, are the 30 properties SFHs in the Greater Los Angeles area and if so, have all been converted into rental properties?
I look forward to talk shop :-)
Welcome to BP @James Yoo sounds like you have a good head start. Good luck to you.
Welcome to BiggerPockets @James Yoo ! Good luck!
Welcome James! Congrats on the portfolio and leaving Wall Street! :)
@alex shin yes, all 30 or so properties are in LA City/County. All are currently being rented out.
Hello! @James Yoo
Welcome to BP, and congratulations on making the decision to invest in your future via real estate.
I have written a few blog posts that may help you get started here on BP, and with your investing. Please click on the links, give them a read, and share your thoughts in the comments.
First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:
The second is a post that will help get you focused with your real estate investing goals:
The last one is a post that will help you choose an “investor friendly” real estate agent. There are many agents out there, but it’s important to choose the right one.
I love answering questions if you have any! Good Luck :)
Hi James, congrats on leaving your job rat race job! Your family seems like a great resource to have given their experience and background within the RE industry. My family has owns property in SoCal, but they are all incredibly passive property owners, and also bought property ages ago when the prices were low and you (almost) couldn't mess up! Investing in socal is a lot different in 2019 so I'm glad that I have BP to help me out with what I don't know!
How are your RE goals going? Are you looking into properties in SoCal or out of state? I'm dabbling between the 2 - will probably try to diversify with a longer term socal property and cash flowing properties out of state. Would love to connect and talk RE!
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