I am new to BiggerPockets so I thought I'd introduce myself!
I am from Palmdale, CA, and attended California State University, Chico where I received a degree in graphic design. Upon graduating, I moved to Southern Oregon where I have been gaining experience in graphic design, web design and marketing for the past 3 years.
About a month ago, my boyfriend drug me to a 1-hour Rich Dad event where they sold us on a $199 3-day seminar. We attended the seminar this past weekend and learned a ton! We are both sold on the idea of investing in real estate and are willing to do what it takes to be successful. While it was tempting to pay for Rich Dad's advanced education, we turned it down because while we are convinced that this is the road we want to take, we understand that it will NOT be easy and it is not a "qet rich quick" solution. Since we have made peace with that, we are ready to move forward!
Currently, we are trying to figure out which path we want to start down first. Wholesaling looked like the best option at first glance, but since my boyfriend has his real estate license, it looks like that is not going to be the path for us together while we are in Oregon, though it is still an option for me completely alone. Bird dogging could be okay, except we heard that a lot of new investors give up quick on this because they don't have anything invested. This leaves us with flipping. While I have a very little amount in my savings right now that I'm not willing to lose, I do have $15-$20k available in credit. Credit is not my first option, so we're researching ways to creatively finance. I have a full-time job that I commute to M-F, so this will be something I can commit my time to on evenings and weekends.
I joined BiggerPockets because I love to connect with like-minded individuals and I love being part of supportive communities!
While I don't have a lot of knowledge to contribute yet on investing or real estate, I do have an eye for design and making marketing material look pretty, professional and convincing. I also am experienced using WordPress and customizing themes. I know a lot of people are trying to cut costs where they can and do marketing on their own, so don't hesitate to ask if you need an opinion!
I look forward to being a contributing member of BiggerPockets!
You will find multiple investors on here with different levels of cash and investing and experience. I am sure you will have others on here in the same situation you are in.
All the best.
Welcome to the BP community. Spend a little time here and I think you will find the information and help from members invaluable, as do I. Best of luck to you in your pusuit!
@Alyssa C. , Welcome to BP. you stated...Wholesaling looked like the best option at first glance, but since my boyfriend has his real estate license, it looks like that is not going to be the path for us together while we are in Oregon, though it is still an option for me completely alone
Just wondering why you think that because your boyfriend has his real estate license you cannot wholesale properties? I have a license, i have wholesaled lots of properties when i first started. In fact sometimes it is the only option some of your sellers will have.
Example- a sellers properties' loans are a little less, even with, or even a little more than the value of the property. What can a licensed agent do in this situation? If he tries to help as an agent the seller is left with little if any money.
Better yet maybe you can do a SUB2, (please search other threads for definitions and techniques)
Do you own your own personal residence? Another opportunity?
Also since boyfriend is licensed, we know at least if he finds a deal on the market you can save his commission, or you could pay him.
I ask a lot of questions because it will help BP members guide you with a better answer.
Lets start there. Just trying to help you put your best foot forward.
Hello @Alyssa C. I am chuckling because you’ve mentioned most of the techniques we use but one – the one that provides us with financial freedom: BUY and HOLD. I’ve purchased 28 units in the past 7 years which generates $45,000 of CF annually. The first 18 were 100% financed, while the 10-unit I closed on yesterday required 2% cash ($5,000).
Why not BUY and HOLD?
Welcome @Alyssa C. ! I'm a few hours north of you, up In Washington so hello neighbor! I think you'll find BP is full of knowledgeable people willing to help you out however we can. Don't hesitate to ask questions, answer questions, or chime in to any conversation. And get your boyfriend on here too! :)
Also - you may want to consider a PRO membership, or PRO Basic, which allows you to post ads in the Marketplace. I bet you there are a lot of Landlords on here who are struggling with getting a good webpage made. In our industry, there is no "go to person" for that - but it's desperately needed. Just a thought!
Seeya around the site! Don't forget to set up some "Keyword Alerts" so you can be informed when certain words or phrases are mentioned on the forums, like "Oregon," "Wholesaling," or other terms that interest you.
@Michael Galloway : Any transaction that he's a principal to, might be a principal to or a party to needs to go through the broker, and they will take a commission cut out of it. The principal broker does NOT want the office attached to wholesaling behavior. Flipping is more of a traditional transaction so the broker is more okay with this. I, however, can still do wholesaling 100% completely on my own.
I do own a personal residence as of a few months ago, but it doesn't have any equity in it yet.
I haven't researched anything on SUB2s yet, so I'll brush up on that this week.
@Ben Leybovich : Why not buy and hold? I seem to have the idea stuck in my head that I need some money to actually put down on a property to hold it, and I'm not sure how to finance an investment property to buy and hold with zero cash down. This is what I want to do over time, however. Maybe my thinking is wrong, and there is a way to do this? Please enlighten me!!
@Alyssa C. It's deffinitely possible, and some would even say advisable. Check out this thread:
@Alyssa C. , welcome to BP and the world of investing. There are several California clubs I think you should check out. There's a womens group out of LA run by Angel Bronsgeest. Bill Tan also runs a club in Pasadena that's smaller. Both of these individuals focus on creative financing. I think you're also adopting a very important network of local expertise. Feel free to call if you need help.
Hi Alyssa, welcome aboard!!! Loved reading your into!!! There is a ton of good information you will find here!!! Excited for you guys to start this successful journey!! Best of luck!!
Welcome to BP Alyssa! I definitely understand your goal to build capital before buying properties to hold. I have spend the last 2 years or so flipping properties to build that capital and we just closed on our first rental property and are about to make an offer on a second. I am a huge fan of utilizing 2 strategies that feed each other to build capital and a portfolio at the same time.
Welcome Alyssa - all of the replies were sound advice. I would encourage you to go to as many real estate clubs as possible before you make a decision as to what investing to Di next. You will meet people doing a variety of things in real estate that you may not even be aware of.
@Aaron Norris mentioned my women's only group that meets in Los Angeles the last Tuesday of each month. You can go to www.meetup.com/WINfibi for more info. Bill Tan's group is awesome too.
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