Southern California Newbie Needing Advice

7 Replies

Hi guys, brand new to the BP community and really RE as a whole. My brother suggested the BP podcast and for the last week it’s all I can listen to. I have a considerable savings account and have done a considerable amount of hands as work with 3 years in the commercial electrical field and now working as a project engineer/manager in training. Still young (22 next month) but I want to look to see how I can begin my path to financial freedom. I should be graduating with an Associates in Business Management this December, I’m a numbers kind of guy and like to think I’m ambitious. The Southern California market, Orange County in particular is where I’ve lived almost my entire life and investing in real estate seems almost impossible to start down here. Looking for general advice, tips, connections, really anything on what I should really look into in this high $ hot market. I appreciate all the responses in advance!

Welcome to BP @Nicholas Matthew Coca ! There are a ton of resources throughout this site. I would suggest you keep getting educated and work on your goals towards financial freedom. If the Southern California market is too expensive, you can look at other markets across the country to invest and work towards your goals. Just keep plugging away. 

Suggest getting a realtor license. 60% licensees are not practicing. But it is a good qualification. They have meetups listening to those who have been successful.  Never mind those saying they have pocket listing, want to house heck (but have no money). Soon you will meet likely persons as well as crooks too..... If one can get something for nothing, something is not quiet right. Do not afraid to ask for credit rpts, references. Don't have it? When can they show you theirs?   

Good luck,

Sam Shueh

@Nicholas Matthew Coca

Find your local RE meet ups, and just listen, write things down that go over your head, and look for it on here or on any other website google brings up. 

Find an area you are interested in and dive in. That may be 12 areas to begin with, but as you get more into it, that number becomes 6, then 3, then 1 that excites you the most. Put your time and effort into learning that. Seek out the people on here that do it. Seek out the people at the RE meet ups that do it. JV with people in that field once you have done your hw on the person and the project.

I only invest in So Cal, but its where I want to do it. It isn't as fast as buying a multifamily in middle America, but thats my choice, and everyone will have their own opinions and beliefs. You will discover yours in the process. But becasue of how new you are, I would suggest taking the time to listen and learn before you chase all the shiny things that want your money. 

Enjoy the education, its overhwhelming at first, but once you concentrate on your one thing your confidence will grow. 

Good Luck!

Welcome Nicholas! Well for that challenge, and lot of us SoCal-ers invest out-of-state. That's mostly all I've done. Just depends really on what kinds of properties you are wanting to get into.

Hello Nicholas,
I think your in the right place. Just keep listening to podcasts, reading the forums and chatting with people. Then when your ready(don’t wait too long) dive in.

Also, I’m close by in Fullerton let me know we can chat about it, I’ll tell you about my journey so far.

@Nicholas Matthew Coca welcome to BP.  There are several meetup groups here in Orange County that you should check out.  I am happy to meet with you one on one since you are so close to me.  Hopefully get you started in the right direction.  Reach out if you wish.

Good Investing...

I’ve been investing in OC for over 24 years. Today I wouldn’t buy a investment property in OC. The roi just isn’t there.  If you want to invest start looking into Riverside, Chino, Corona, Montclair, Claremont, Rancho, . You would need to be a cash buyer to make a dent. House prices run 10-15-20% lower than OC but they’re going up. We moved out that way and our house went up about 20% from two years ago. My neighbor paid as much as I did for a 1400 sq ft and mine is 2300. His lot is a lot less user friendly.

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