All Forum Posts by: Adam Pierce

Hi Carrie! 

I'm also from socal and have considered investing in Texas. If you are into cash flow strategies we should talk!

@Rod Desinord Yes good idea, is there any way to estimate how much the closing costs are going to be? Are there any ratios I could use for the OC area?

@Anthony Gayden Yes I've considered getting my license for a while now. I've heard such mixed reviews on it. Do you strongly believe that a buy and hold investor would benefit from getting one? I have heard that people just use wholesalers or realtor websites these days now. I am curious what your thoughts are because this is something I've been seriously considering.

@Joe Homs Thanks Joe! I'll hopefully make it down. I'll send you a message tonight.

@Dean Suzuki Hi Dean. I've heard a lot of people suggest to try and stay local for your first few deals. I find it hard when the prices are so high in my area. Would you suggest a new investor to start out of state on their first deal?

@Patrick BrittonWow I've never heard of the NHF program before. I'll have to look into that, it sounds incredible!

Hi BP!

I am currently in the process of saving money to get my first deal started.

The big obstacle that I am facing is that I live and work in Orange County, CA where the average home is over $400k. 

From my calculations it will likely take me at least a year or two of saving to get anywhere close to being able to afford a down payment. (I only save about $700 a month)

My question is, what should I be doing in the mean time besides reading books and watching webinars?

I've considered wholesaling and lease options but I'm fearful that I will end up losing money and slowing down my savings. I'm also worried that there aren't many opportunities to use those strategies in my area. What are your thoughts?

Anyways thanks so much in advance!

All feedback is appreciated.

thanks for the post. I learned a lot from this thread!

If you are concerned with costs you can let a wholesaler and real estate agent do the searching for you. 

With that being said, I think direct mail is a great tool however you need to be prepared to send out multiple waves of letters to the same addresses if you want to see results.

I work with a couple different marketing companies who use direct mail and it takes about 3 letters to the same person to get the call; just something to think about when you are figuring your costs and time.

Hi Eric, please add me to your contacts. I am looking to fix and hold in riverside. I'm still raising capital but will likely be buying by the end of the year. 

It's definitely scary to buy right now. I want to get started investing in riverside but I'm fearful that these prices are going to severely drop in the next 6 to 18 months. My Realtors all tell me they believe the prices will stay and even grow so it's a tough call.

If you need the tenants to move out early (prior to their lease expiring) you can always bribe them w/ a few hundred dollars. I'm sorry that you guys are in an uncomfortable position, at least it's only $50 a month.