Good afternoon everyone! I caught the real estate bug a few months ago around my birthday and binged on podcasts. After reading some great starter books and careful thought I've narrowed down my options to turnkey investments (out of state) + driving for dollars to help me find a good investment for my first real estate property. As anyone who lives in California knows, the prices here are a big barrier for new real estate investors. An FHA loan is also another option I can take, but I need to marinate a little more on these things.

Anyways, we all know wealth takes time to build- So, time is money... Thank you for taking time to read this, and I wish you all the best on your endeavors. If anyone is in the area or knows of any local meet ups, please feel free to reach out or mention them here! I'm open to networking. Thank you :)

Edwardo.

I own a turnkey company and that is all we do all day long.

Turnkey's are great because you can get into them cheap and they cash flow from day one.

Let me know if I can help in any way.

Originally posted by @Edwardo Macasieb :

Good afternoon everyone! I caught the real estate bug a few months ago around my birthday and binged on podcasts. After reading some great starter books and careful thought I've narrowed down my options to turnkey investments (out of state) + driving for dollars to help me find a good investment for my first real estate property. As anyone who lives in California knows, the prices here are a big barrier for new real estate investors. An FHA loan is also another option I can take, but I need to marinate a little more on these things.

Anyways, we all know wealth takes time to build- So, time is money... Thank you for taking time to read this, and I wish you all the best on your endeavors. If anyone is in the area or knows of any local meet ups, please feel free to reach out or mention them here! I'm open to networking. Thank you :)

Do you own your own home? I assume no since you're looking into an FHA option? Me personally I think investors need to take care of home base 1st. Own the home you live in before venturing somewhere else. An FHA house hack is a pretty great way to get your feet wet & cover the roof over your head at the same time. If & when you do venture out of state I've listed some best practices for you below.

• Don't buy in the roughest neighborhood in the urban core. Pick a solid B-Class suburban area. Perhaps a nice 1950's built bungalow.
• Always hire a 3rd party property inspector to give you an unbiased feel for the home. The reports are 40-90 pages long and go through the entire house in great detail.
• Get an appraisal. If your using financing the bank requires this. This is good. The bank isn't going to let you blow their money. They have more skin in the game then you do.
• Make sure you get clear title. If using a lender this is a non issue. They will make you do this. It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.
• Make sure your property manager is a licensed real estate brokerage.
• Understand you can not eliminate all risk, only mitigate it. If you are risk adverse real estate, (especially out of state) is not for you.

Welcome Edwardo! I'm down in Venice. I've mostly done out-of-state turnkeys.

I'd say between those options, and especially when considering an FHA, be sure to run all the numbers. And FHA in California is quite costly (over the life of the investment) and will likely keep you in the negative.

Reach out if you need any help from any of us!

Originally posted by @James Wise :

Originally posted by @Edwardo Macasieb:

Good afternoon everyone! I caught the real estate bug a few months ago around my birthday and binged on podcasts. After reading some great starter books and careful thought I've narrowed down my options to turnkey investments (out of state) + driving for dollars to help me find a good investment for my first real estate property. As anyone who lives in California knows, the prices here are a big barrier for new real estate investors. An FHA loan is also another option I can take, but I need to marinate a little more on these things.

Anyways, we all know wealth takes time to build- So, time is money... Thank you for taking time to read this, and I wish you all the best on your endeavors. If anyone is in the area or knows of any local meet ups, please feel free to reach out or mention them here! I'm open to networking. Thank you :)

Do you own your own home? I assume no since you're looking into an FHA option? Me personally I think investors need to take care of home base 1st. Own the home you live in before venturing somewhere else. An FHA house hack is a pretty great way to get your feet wet & cover the roof over your head at the same time. If & when you do venture out of state I've listed some best practices for you below.

• Don't buy in the roughest neighborhood in the urban core. Pick a solid B-Class suburban area. Perhaps a nice 1950's built bungalow.
• Always hire a 3rd party property inspector to give you an unbiased feel for the home. The reports are 40-90 pages long and go through the entire house in great detail.
• Get an appraisal. If your using financing the bank requires this. This is good. The bank isn't going to let you blow their money. They have more skin in the game then you do.
• Make sure you get clear title. If using a lender this is a non issue. They will make you do this. It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.
• Make sure your property manager is a licensed real estate brokerage.
• Understand you can not eliminate all risk, only mitigate it. If you are risk adverse real estate, (especially out of state) is not for you.

 Hey James. I don't own my own property. I am looking for a 2-4 unit multi-family home to house hack so I can manage the property myself along with my SO. Haven't seen any great deals yet. I should contact the two realtors I know! And I agree, out-of-state is a much higher risk than local since I'll be much more reliant on others' expertise of the area. I was checking turnkey-reviews.com to find reputable TK companies. Thank you for these pointers!!