All Forum Posts by: Account Closed

No post? Introduce yourself.  Tell everyone who you are, where you go to school, who you're working for, what your goals are, etc.  This is how you start networking and you'll be glad you did it once you put yourself out there and get some encouragement from other members. 

- Chris

Welcome to BP 

@Maria Nattestad

There is a great amount of information on this site for all levels of RE investing.  I found the podcasts to be quite informative and would recommend them to anyone.  

Vacation rentals are quite a unique niche.  They are becoming quite popular, though with increased popularity brings new restrictions.  Most newbies are drawn to real estate by the prospects of flipping, wholesaling, and/or buy-and-hold.  Out of curiosity, what do you find attractive about vacation rentals? 


Best, 

Chris

Hi @Nicole 

@Nicole B.

I don't think you would necessarily get your money's worth from a pro membership since you're just starting to sift through the free RE materials.  There are nice features associated with the pro membership, but they're most likely not all that valuable to you if you are completely new to real estate.  My advice would be to absorb as much as possible by taking advantage of the free materials, which I found to be very straight forward.  Sooner or later, you'll want to start thinking about taking action on your first deal.  It is at this point where a pro membership is most valuable. 

By the way, there are several REIA meetups in the area. Have you attended any?

Best, 

Chris

Welcome to BP @Nicole B..  Since joining this site in January I have learned quite a lot.  As a new member interested in learning more about RE, I would recommend the free materials available under the "Learn" tab at the top of the page.

Like you, I have considered investing in one of several out of state markets.  As you think about investing out of state, you'll find value in establishing a network of reliable people on the ground in your target market.  There are some good people on here who are willing to help, though beware of the sharks.  Take the time to learn about your niche strategy and best of luck.

Regards,

Chris   

@Brad Turley

Welcome to BP, Brad. I'm in San Jose and have attended a few REI meetups in the bay area. Like you, I was a little nervous going to my first REI group meeting since I didn't know anyone and I was going alone. Walking into the meetup venue, I was expecting a VIP club of sorts complete with arrogant rich people who wanted to brag about how many Bentleys they had in the garage. That's not at all what I experienced, however. In fact, most of the people at the meetups that I attended seemed to be new to RE and were just trying to find out more information. I met some great people and we had some good conversations. I would advise approaching people with, "hey, I'm a newbie." Rather, listen to the conversations and absorb. Jump in when you have a specific question or when you feel you can offer something of value. To that end, it would be in your best interests to come to an REI meeting pre-loaded with some useful information, especially about your local market since that will most likely be the most common subject covered. You can find out plenty about your local market by doing an internet search, reading local blogs, and reading up on the local area chamber of commerce website.

There are plenty of people who are new to this industry, but never get off the ground because they allow their fear to be their decision maker.  I'm relatively new to RE and have already met many people who say they want to get involved with RE, but are reluctant to get out there and talk to people let alone buy a property.  Remember one thing, real estate is a people business above anything else.  Sure, you'll make mistakes and ask rookie questions in the beginning, but as long as you can show you are serious and determined, you'll score points with more experienced investors, which could open some doors for you.

@Brandon Turner @Joshua Dorkin
I have paid for a 1 year pro membership in June, though today I noticed I no longer have the "pro" on my icon nor am I allowed to post in the marketplace.  In fact, when I tried to post in the marketplace a message appeared providing notification that posting in the marketplace is only for pro and plus members.  Why is my pro membership not being acknowledged?

@Account Closed

"out of state investing is where CA investors go to lose money."

Provocative quote, Minh. I've not heard that one, though I've also only been in the bay area for a few years. A younger person may consider moving into a multi, but I that isn't viable for us. Other than FHA, I'd be interested in hearing other options.

Since you inquired, I'd rather not disclose my income here, though it is steady and predictable.  Unfortunately, I'm not able to make the meetup tonight at Whisper's, so I won't be able to pick your brain.  I'll PM you instead.  Perhaps you can change my mind about entry level bay area investing.   

@Alex Vidal

I stated that I wouldn't buy and hold in SF. If I had 200-300K liquid, I would consider investing in the bay area through various means. The bay area will continue to show high demand for rentals, especially as home prices become further and further out of reach for even the average earners. However, a simple ROI or COC calculation would easily justify looking elsewhere for buy and hold.

@Account Closed Bay area RE is very lucrative, if one can enter the market.  How would you suggest a beginner with no experience and less than $50K enter this market?

@Gilbert Dominguez

Thank you for the reality check for this thread, Gilbert. Not everyone has several 100K laying around