All Forum Posts by: Dale K Poyser

@Justin R. I'll take a look at Bakersfield, thanks!

@Jo-Ann Lapin Thanks, will do!

Thanks Curtis, I have been checking prices almost daily and I found a couple cheaper properties in Santa Ana and in Moreno Valley. I found a condo for 138k and I've seen 3/2 bath houses for mid 200's to 300's.

But I'll keep running the numbers and keep that in mind. What out of state cities would you recommend?

Hi BiggerPockets Community - pretty new to the site and forums. I am not sure if this has been posted already, if it has then my apologies in advance and please point me to that thread.

I've been looking at different RE markets in Southern California, and so far Riverside and Moreno Valley seem like the cheapest options for investing in some rental properties. My real estate agent suggested that Riverside/Moreno might not be a good option because of high taxes, is there any truth to this?

Are there any cities in or close to Southern California that are good for the newbie investor just getting started in rental properties? I think ideally Single Family Residence is where I should want to go, before moving up to multiunit properties, but I'm new so I could be wrong in this approach. Would condos be a better option to avoid high ticket maintenance items like the roof and garages, landscaping etc?

Look forward to the replies.

You can be diversified in strictly real estate, and you can be diversified in strictly the stock market. I think what should be important is how well you manage your assets and if you spread you wealth out too much you may have a hard time effectively managing them all.

That being said imo as many passive/residual streams as you can have, the better off you will be. Having a lot of fixed income investments (REITS, Bonds, Rental Properties, Royalty income) should be high on the list. Once you determine your financial number (number that covers all your expenses and a little more for fun) and you can consistently bring that in on a monthly basis then you can look at some more active investments that you enjoy. 

By having passive income that supports you, you can afford to be aggressive and take more risks on things you enjoy. you can even afford to get wiped out on your active investments as you learn along the way, and still be ok.

I don;t think there is a one size fits all formula. Some people do very well with internet marketing, Youtube videos, trading stocks, futures, options, selling on Ebay, selling Ebooks, coaching, mentoring, etc. i think it is important to find something you can be passionate about 'that does not feel like work" and then the money will come.

That's my .02

How do you manage the properties in fresno? 

Maintenance?

Tenants? 

Etc?

Congrats on the journey

Sounds interesting to me