Newbie From California

10 Replies

Hello all, I am new to biggerpockets.com and to real estate investmenting. I use to think I could never get into real estate investment due to have an awesome paying job (although that can help) and living in southern California, where real estate is out of reach for such a person as me. despite these apparent obstacles and I am taking small steps (hopefully not too small of steps) into investing in real estate. I am looking at by and hold out of state most particularly in Philadelphia area as this is a place where me and my family are looking to settle in the near future.

I am very thankful for the wealth of information on bigger pockets and look forward to digesting what I can.



Welcome Daniel! I work with out of state investors often here in Philadelphia for the reasons you mention, and most are either from NYC or California. Great salaries but they just can't find anything that cash flows in their market. Are you considering single family or multifamily? 

Welcome @Daniel Baczkur ! You've made a great decision. I quit my 6 figure job to do real estate and have not looked back! What are your goals for the next 12 months? 

Originally posted by @Troy Sheets :

Welcome Daniel! I work with out of state investors often here in Philadelphia for the reasons you mention, and most are either from NYC or California. Great salaries but they just can't find anything that cash flows in their market. Are you considering single family or multifamily? 

Hello Troy and thank you for the welcome. I am looking into investing in multifamily property to buy and hold for the mid-long term.

Originally posted by @Blake Choisnet :

Welcome @Daniel Baczkur! You've made a great decision. I quit my 6 figure job to do real estate and have not looked back! What are your goals for the next 12 months? 

Hello Blake, thank you. I am excited about the journey ahead. But not too excited to jump in just to get burned and drown. The steps that I would like to have made within the first 12 months is to get my saving up to $40k from $25k so that I can have enough money for a down payment, closing costs, and any potential cost due to vacancy after the initial purchase. I would also would have liked to have made a purchase of my first property. We are also working on a 2 year exit plan from moving from CA to the Suburbs of Philly.

@Daniel Baczkur welcome to Philly investing!! It is an exciting and interesting market. I do buy &hold throughout the city and suburbs with emphasis on solidity and appreciation and the market has been Good to me. Lots of granular regional info on our site might give you added insights.

@Daniel Baczkur Welcome! I have a similar story ... ish. I live in Santa Cruz, CA now. Moved here 5 years ago from Philly. Tried real estate out here for a bit with minor success but had trouble gaining traction. Now I invest in Philly with my buddy who still lives there. Lots of opportunity for both Cashflow & Appreciation in the same purchase in parts of Philadelphia, a big draw! 

I recommend trying to find a partner. There's a lot I can do from my laptop, but of course I'm limited in many ways since I can't be there in person. See if you can find someone with similar goals to you. That may jump start you towards your goals! 

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