All Forum Posts by: Account Closed

@Jonathan MacMillan 

Welcome to BP!

@Ali Boone is spot on. Also, are you looking for cash flow opportunities, or more capital gains / flips etc?

I know some folks doing flips in LA, and making ok money. Personally, I live in in Los Angeles, and invest in TX, TN and now Atlanta. Once I understood how to invest outside of my backyard, I was off to the races!

Best of luck. 

HI @Justin Brophy 

I've lived in Los Angeles for 20 years, and have been investing out of state for about 6 years. I started looking in the LA for cash flowing single family, but soon found out it's nearly impossible to find! So quite a few CA investors I knew were 'speculating', and buying for appreciation  / capital gains. I know quite a few folks that were crushed in the downturn/subprime (many of us do as well). I focused on Dallas/Ft Worth, Memphis and now Atlanta, and it's been awesome. I looked at Vegas a few years back, and was worried about the vacancy rates, and 'ask me about one month free' rent signs everywhere.

Has that changed, as far as you know?

Hi @Daniella Ortiz 

Really solid advice here. Definitely find out more about the potential partner, and clearly definite the relationship, and put a contract in place. If you are not putting money into the deal, and you are using your time, it would be worthwhile to try one -- if everything else checks out. Best of luck!

Hi @Valeria R. 

Are you looking in the Houston market?

Depending on your financial profile, debt to income, etc -- you can typically qualify for up to 10 conventional fannie/freddie loans, plus your primary residence. There are banks, etc out there that will lend more than 10, but the down payments are larger. 

Andrew

Hi @Rick Fonseca

Great advice on this thread. Most goes back to education. Keep learning, and figure out what you want to focus on, picket the market, build the time, do the deal.  Simple, but getting there can be a challenge. Good luck!

@Frank Dortilus 

I'm a huge fan of Atlanta, and have had great success in South Atlanta area. Good luck, you are in a solid market.

Andrew

@Kiya Smith 

You are moving to one of favorite markets! You are on the right track with education. I created a list of books that have inspired me. Feel free to download, and enjoy!

https://www.dropbox.com/s/4342p58835rvsit/My%20Personal%20List%20of%20Books%20VA.pdf

Best of luck.

@Kim Conley 

I would seek legal consul, and make sure your company is setup properly. Also, do you have a great CPA? Another important part of your team, and very important!

Andrew

Hi @Nichole Wall 

Do you have the time or ability to volunteer one day a week for him, in exchange for some mentoring? If it's the right situation, you might learn quite a bit, and add value to his company. Just a thought.

Andrew

@Jaren Barnes 

OK, thank you. Will do. Appreciate your help.

Andrew