All Forum Posts by: Rosalina Brenda Berk

@Caleb Mclamb Congratulations on your graduation! 

In terms of a real estate job beside being an agent, I would say "bird dogging" is a strong option. I haven't done it myself (I'm going the RE agent route), but I've heard for some of the other members that it's a solid way to learn the numbers for your market while also making connections. Basically you find a great deal for an investor and charge a fee. Unlike wholesaling, you do NOT put it under contract. 

If you haven't already heard this podcast episode, the first part explains how @Chad Carson got started with bird dogging. I found it really helpful. Maybe you will, too. 

Good luck and let us know in which direction you go!

http://www.biggerpockets.com/renewsblog/2014/08/21...

@Gina Gee Welcome to the site! Bigger Pockets has so much to offer. How did you find BP and what prompted you to want to try real estate investing? 

@John H. Hey! What kind of investors are you looking for? Flippers? Buy and Hold? I'm new to real estate investing, but I'm curious to know what the price range is in those areas. 

I grew up in South Gate, near Downey, so I'm familiar with Cerritos. Did you grow up in the area?

@Brett Synicky Thanks for responding and for the link, I'll read it tonight. I mainly want to help investors find property, whether it's buy and hold or potential flips. That being said, I'm telling my friends and family that I'm becoming an agent, so obviously I'd want them to contact me should want to buy or sell.   Thanks for the encouragement!

@Mark Mynhier Thanks for responding and for the REI club suggestions. That is the goal in terms of financing, to find someone whom I can help expand their portfolio and get them bigger returns. Now for a newbie question: what exactly is a pocket deal?

@Brie Schmidt Thanks for responding. Yeah, conventional financing is difficult to get. There are plenty of creative financing options out there, but it takes hustle. Thanks for the tip about lenders averaging two years worth of income - I didn't know that. What's your experience been like with buy and hold? Do you have prop. management in place? 

Buenos Dias! 

I will be a licensed real estate agent in Los Angeles in a couple of months (taking state board exam in February) and I'm at the point where I need to write my business plan. With so many paths to take in RE investing, I've narrowed it down to two strategies and I'd appreciate any and all advice from those who have been (or are) in a similar position. 

1. Establish myself as a solid RE agent and save my earnings to purchase buy and hold property(ies) in affordable markets in Southern California down the line.

or

2. Join the flipping game that is being played out as we speak in the up-and-coming neighborhoods in Los Angeles. 

My short-term goal for 2015 is to net at least $35,000 from various real estate efforts combined (commissions, any referral fees I can get, possible wholesale earnings, etc.).

Mid-term goal (2016 & 2017) is to net $60,000 and $75,000 respectively, from various real estate efforts as mentioned above. 

Long-term goal (five years from now) is to have $6,000/month in "passive" income from rental property. 

Los Angeles is unlike other market, so I've heard and read here on Bigger Pockets. 

My questions to you are:

In a market like Los Angeles, and Southern California for that matter, what strategy makes the most sense? 

If you have your real estate agent's license, how have you been able to merge your roles as agent and investor? How have you structured your bushiness plan?

Thank you for taking the time to read this. I hope you enjoy the rest of your day ; )

-Brenda 

@JamesKandasamy Thank you for all the useful info. I'm going to practice running number this weekend. Have a great day!

@Justin C. That's right. Cap rate is independent of financing and C.O.C. is directly related to the amount of cash you put down on the investment. If you haven't already read this, I found this blog post super helpful: http://www.biggerpockets.com/renewsblog/2010/06/30/introduction-to-real-estate-analysis-investing/

@Account Closed How do you define cap rate?

@Justin Green Seems like a self-directed IRA is a solid way to go. There's a BP Podcast, episode 084 with @Chad Carson where he explains how he does it. Let us know if and when you've figured it out. 

@Brian Gibbons Thanks for a wonderful breakdown. The numbers along with your verbiage is really helpful. 

@Brian Eastman Wonderful point about let tax professionals do their thing. I think the number one thing is to protect the integrity of the relationship you're trying to foster.  

Thanks, guys, for a great mini lesson for this newbie : ) 

@James Kandasamy Thank you so much for explaining that! It all makes sense now. I didn't realize that I had to divide my total cost by the ARV. At what percentage, in your opinion, is the deal not worth it?