24 y/o investor from Los Angeles; Any tips for starting out??

8 Replies

HELLO Everybody!

My name is Alex and I'm new to getting started out with Real Estate Investing, and I have to tell you, I'm flippin' excited. So many ways to go about this but I've been enjoying immersing myself with knowledge through podcasts, books, and the mistakes of others from meeting RE investors at REIA and meetup groups. I want to continue down this path even more so now that I've moved back to LA from Denver, Colorado and keep making friends of the REI space. I will own a rental property that cash flows $200 per month by EOY 2019. Books/audibles that have helped get the mindset and technicalities at this point are:

Long Distance Real Estate Investing by @David Greene

How to Win Friends and Influence People 

12 Rules to Life

Rich Dad Poor Dad 

Think and Grow Rich [GAME CHANGER]


Might I add that I was never much of a reader...?! I'd appreciate even more book recommendations and local LA REIA groups. I plan on attending the live auction held in Norwalk this week and the upcoming FIBI meeting in Pasadena next week. I'd love to see some of ya'll there!


I read around 40-50 books a year. Here's some additional books I recommend.

1. The Millionaire Next Door - teaches how to accumulate wealth
2. Who Moved My Cheese - teaches how to deal with changes
3. Tax Strategies for the Savvy REI - should be read before ever starting in the business
4. Asset Protection for REI - should be read before ever starting in the business
5. The Pre-Foreclosure Property Investor Kit - Great book for any level
6. Millionaire REI - Another great book
7. My Life & 1000 Houses - Great book on starting in the business, and adapting. 
8. The ART of Owner Financing - BEST strategy book I've read
9. NOTE Investing - Learn more about real estate notes

Good luck!!

Originally posted by @Jeff Filali :

I read around 40-50 books a year. Here's some additional books I recommend.

1. The Millionaire Next Door - teaches how to accumulate wealth
2. Who Moved My Cheese - teaches how to deal with changes
3. Tax Strategies for the Savvy REI - should be read before ever starting in the business
4. Asset Protection for REI - should be read before ever starting in the business
5. The Pre-Foreclosure Property Investor Kit - Great book for any level
6. Millionaire REI - Another great book
7. My Life & 1000 Houses - Great book on starting in the business, and adapting. 
8. The ART of Owner Financing - BEST strategy book I've read
9. NOTE Investing - Learn more about real estate notes

Good luck!!

Sweet list, Jeff. Adding these onto the list! Thanks

Welcome! Sounds like a realistic goal. I'd up that goal and aim for more cash flow per door. $200 is a bit low in my opinion and leaves very little room for profit if you run into any unexpected vacancy's, evictions, or capital expenditures.  

Welcome, @Alex Shin ! I'm flippin' excited you found BP ;)

Great list of reads....a few other things that may be helpful to you here on the Bigger Pockets website:

You can set up keyword alerts so anytime someone posts about any of the markets or real estate niches you're interested in pursuing, you'll be notified. That could be a great way to find and stay engaged with local investors and opportunities. http://www.biggerpockets.com/alerts

You can also search for other investors in that area and follow their journey on Bigger Pockets here: https://www.biggerpockets.com/search/users

Best of luck to you and look forward to following your journey!

Hey Welcome to the site!

I'd definitely check out High Performance Habits by Brendan B, Book on Low and No Money Down Investing by Brandon Turner, and The One Thing by Gary Keller.

Welcome to BP! Los Angeles has a ton of BP meetup groups and REI groups in Santa Monica, South LA, Pasadena, and also in the Valley. Get involved and feel free to reach out if you have any questions.

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