New Member!! Would love to hear from like minded people!

New Member Introductions

New Member!! Would love to hear from like minded people!

Member since 2018 · 7 posts · 2 votes

Hello everyone, my name is Restyn and I have postponed reaching out on here for a long time. No better time than the present so here I am!

I graduated from California State University Sacramento with a concentration in Finance. Ever since then I have been immersing myself with real estate. I am currently a Loan Officer here in California. I chose that career path so I could really understand the market better and work in real estate every day.

I am looking to get into multi-family investing out of state. I am looking locally in California for a small deal to get my feet wet.

If anyone is located in California and would like to talk anything real estate related I would love to talk as it is hard to find like minded people who are obsessed with real estate!

Thanks for reading and I am excited I finally posted on this site after listening to probably 200+ Bigger Pockets Podcasts.

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Delbert Standifer

Rental Property Investor · Carson, CA · Member since 2019 · 185 posts · 74 votes

6y

Greetings, I'm excited too. I was just preapproved for 200k. My first purchase I cant buy sight unseen.

See this reply in the discussion

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Delbert Standifer
Rental Property Investor · Carson, CA · Member since 2019 · 185 posts · 74 votes
6y
Greetings, I'm excited too. I was just preapproved for 200k. My first purchase I cant buy sight unseen.
1 Reply
Restyn Robbins
OP
Member since 2018 · 7 posts · 2 votes
6y
Congratulations! Where are you looking to buy? And what type of property?
0 Reply
Todd Rasmussen
Rental Property Investor · Clarksville, TN · Member since 2016 · 1k+ posts · 1k+ votes
6y
@Restyn Robbins
Happy first posting. MF if a tough way to start, especially out of state. IT is overbought just about everywhere. Whereabouts in CA are you?
0 Reply
Todd Rasmussen
Rental Property Investor · Clarksville, TN · Member since 2016 · 1k+ posts · 1k+ votes
6y
Originally posted by @Delbert Standifer:
Greetings, I'm excited too. I was just preapproved for 200k. My first purchase I cant buy sight unseen.
Nor should you!!!

0 Reply
Restyn Robbins
OP
Member since 2018 · 7 posts · 2 votes
6y
Hi Todd,
Yes I agree MF is overpriced right now especially in California. I was looking to start small, something I can self manage. Most likely between 4 and 10 units, that are in decent shape but still room for a value addition.
I am located in the Sacramento Area.
0 Reply
Todd Rasmussen
Rental Property Investor · Clarksville, TN · Member since 2016 · 1k+ posts · 1k+ votes
6y
@Restyn Robbins

If you put an "@" and start typing a person's name it will notify them that you answered or responded. It'll help you get responses more often.

I can't imagine trying to self manage out of state in any capacity, especially with a full time job. Property Management is the best 10% you will ever spend. We're around Los Angeles but happy to get you going. [Solicitation Removed by Moderators]
1 Reply
DJ DawsonBusiness Member
Real Estate Agent · Sacramento, CA · Member since 2015 · 394 posts · 259 votes
6y
@Restyn Robbins self management out of state is nearly impossible at @Todd Rasmussen said
What about house hacking in your local area? 3% down and you can rent out another unit or even a room!
Non owner occupied will be 20% down so 100k property = 20k down*
In California you get a 350k property and you’re putting down 3% = 10.5k down*
Just something to consider :) best of luck
* + closing costs, taxes,etc
1 Reply
Restyn Robbins
OP
Member since 2018 · 7 posts · 2 votes
6y
@DJ Dawson I would love to do that but I have 3 kids :) So we have a large family.
I would self manage if I find something in our area. I was looking at Yuba City, they have the new casino out there so my thoughts are the area could grow some. I would find a manager once I go out of state.
The lender I work for can do the loan for me which is nice! Hopefully start putting in offers in January.
Thanks for your input! Do you invest in the Sacramento area?
0 Reply
Ryan Deasy
Lender · Farmington, CT · Member since 2015 · 542 posts · 321 votes
6y
@Restyn Robbins congrats! where are you thinking of investing out of state? i know Houston (and other parts of Texas) are popular for out of state investors. i actually am in houston but invest out of state.
0 Reply
Restyn Robbins
OP
Member since 2018 · 7 posts · 2 votes
6y
@Ryan Deasy Actually I was looking in the Dallas area. We are contemplating moving to the area, my wife and I are going to Texas in February to check out the area.
It is interesting though that you are investing out of state. Where do you primarily invest?
I was looking at Texas because it seems that more people are moving there as well as large companies. Also the income tax rate in Texas is zero, so much better than California :)
0 Reply
Ryan Deasy
Lender · Farmington, CT · Member since 2015 · 542 posts · 321 votes
6y
@Restyn Robbins dallas is a great area. highly recommend checking it out. forth worth is also a great area. love the stockyards. i invest in connecticut where i am from originally. i know it very well and the particular town i invest in is awesome for rental real estate. you are right about dallas. many people and companies are moving there. when you go to visit, you will be amazed at how many big buildings there are with household brand names. it is pretty cool.
0 Reply
Restyn Robbins
OP
Member since 2018 · 7 posts · 2 votes
6y
@Ryan Deasy Very cool, Connecticut is a nice place. I have a good friend I was in the Marine Corps with who is in Connecticut. We visited a few years back. The location is perfect, close to many large cities.
0 Reply
Basit SiddiqiBusiness Member
Accountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
6y
Originally posted by @Restyn Robbins:
@Ryan Deasy Actually I was looking in the Dallas area. We are contemplating moving to the area, my wife and I are going to Texas in February to check out the area.
It is interesting though that you are investing out of state. Where do you primarily invest?
I was looking at Texas because it seems that more people are moving there as well as large companies. Also the income tax rate in Texas is zero, so much better than California :)

You are correct that the state of Texas does not have a state income tax.
However, since you are a resident of California, you are required to report your investments in Texas on your California tax return.

[email protected]917-280-8544
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Restyn Robbins
OP
Member since 2018 · 7 posts · 2 votes
6y
@Basit Siddiqi That is correct but if I were to move to Texas I would not have an income tax. Which is why we are considering the state.
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