My name is Luis and I’m new to these forums. I live in Los Angeles county and would like to enter the real estate market. I have been an entrepreneur for most of my life. I currently have a business that deals with home improvement products. I am a licensed contractor. I am 39 years old and will be 40 this year. I am starting to plan on retirement at 55-60 years old. Could you guys point me out in the right direction. I would like to creat passive income for retirement. I have all my capital tied up in my most recent business that I started 2 years ago. I can do rehabs as a start if that makes sense. I have no clue on the real estate industry. Your advise is greatly appreciated.
good place to start is to attend a meet up event. Depends on what area you live, there are a number of events in LA. Lots of good people there to talk to.
good place to start is to attend a meet up event. Depends on what area you live, there are a number of events in LA. Lots of good people there to talk to.
San Antonio, TX · Member since 2009 · 3k+ posts · 1k+ votes
7y
@Luis Ascencio Welcome to BP! The best thing to do is read as much as you can and make a plan. Look at your finances to see where you're at financially. Know how much money is coming in and out every month. Then decide what you want to do. Do you want to build up cash? Or do you want to buy and hold rental properties for cash flow? If you need cash to start, you may want to build up cash by wholesaling and/or working with a partner on flip deals. This is how I started out as a real estate investor. Once I built up enough cash, then I started buying and holding properties for cash flow. Hope this helps. Good luck with your real estate investing journey!
I will attend a meet up and try to network. I am a licensed contractor with sources and experience, maybe I can partner with an investor and start flipping some houses.
Los Angeles, CA · Member since 2017 · 73 posts · 29 votes
7y
Hi @Luis Ascencio welcome to BP. I have a meet up tonight at Silverlake. DM me if youre available and would like to go. Great place to see how people are connecting and doing deals together. Its a casual space to have like-minded people connect.