All Forum Posts by: Damaso Bautista

@Christian Orozco

As long as your property is within the City of Gardena jurisdiction then there is no rent control.   

For the most part the City limits are Crenshaw on the west side, El Segundo on the north side, Vermont on the east side and 182nd street on the south side. 

If your property is outside of those streets then you are not within the city limits and most likely LA City or LA County.

Good luck!

@Michael Wallace

It looks to me like you are doing great job in your investing strategy.  I hope your title was click bait because often times many people put themselves down comparing themselves to someone else.  

Be proud of the work that you have done and keep working at it.  I am sure you will get to where you want to go.

There is always going to be a bigger fish in the water.  

Congrats on your success so far!

@Jose Rubi

Like @Michael D. said, you need to get verified income to really start in real estate.   

Being from the hood I grew up with a certain mentality about the world and how it works.  Don't let that mentality keep you where you are at.  If you really want to make it out it doesn't magically happen, it takes hard work and dedication.  

We all have an opportunity starting at 5 years old in most places to go to school and get educated.  I was told by my parents that the only way to get out of the hood is to get educated.  If you really look at how you performed the last 17 years of your life in school that will give you a very good indication of what type of work ethic you have.  If you got straight A's the I would say you are a hard worker if you got straight F's I would say you didn't work hard at all.  This is all relevant when trying to get out of an economically depressed circumstance.

Unfortunately when you come from an economically challenged and environment there are really only a few concrete and attainable ways to get out of the hood:

1. Go to the military. Do your four years and work hard and then be honorably discharged. You will come out with some education about the real world and working. If you are wise, you will save your money also. When you get out you have access to a VA loan which gives you the ability to buy a property with Zero down. This could be a great base start for your investment career and could push you up to where you want to be. Imaging you would be 22 years old buying a house to rent out. You would be the landlord. This is a very attainable goal if you are willing to work hard and be patient for it.

2. The next process if longer but is the route that many people take.  Go to college, get educated in something that when you get out will give you a big salary.  Save up your money and start buying real estate.

3. Get a service type job that pays a good salary- US Postal Service, Fireman, Police Officer, Bus Driver, Public Works. All of these types of jobs don't require a college education and in many places you can make a great living and save up money to invest in real estate.

Bottom line for me is there is not quick fix and no magic pill.  You need to get your own economic situation stable before you can start looking into real estate. 

Good luck and I hope you reach whatever goals you set your mind too.

@Jessie Xu

As long as you can qualify for both mortgages there isn't a problem with getting two mortgages at the same time.

 @Joe Villeneuve

I don't disagree with you Joe, but in life people are in different circumstances.  Maybe they don't know how to do the Joe recycle their money over and over and over system. 

Maybe they just see a bill and pay for it instead of trying to figure out a way for someone else to pay for it.

That in my opinion is real life.  If it was as simple as use the Joe system everyone would be millionaires recycling their seed money like its nobodies business.

@Katie Greenman

Whenever I speak to young people, I always advise to max out your retirement account every year.  Live, Scrape and Save from whatever you have left. Invest from the money you are able to save.  There is no magic in building wealth.  Retirements account should be one part of a diversified savings wealth building plan.

Just my opinion.

@Brian Moore

Nice! I love Chattanooga, I have made a couple of trips there for the same reason.  Maybe one day I will buy something there too.  Congratulations!!!

@Ricky Cassidy

I love posts by @Joe Villeneuve because he is 100% about money and the way money works...all business.

But for someone like me, I see money as a means to get where I want to go.  

I spend $60,000 a year just to send my kids to University out of state.  If I was a true investor and valued each dollar the same I would be making a different decision with my money.  Do I know in my heart that the money spent on my kids education is the biggest waste of money ever...YES...but I still do it because I have the ability to do it. That decision is not going to bankrupt me, its not going to take food off the table and its not going to make me get the electricity get cut off.

I guess my point is if you need a new truck and it is not going to make you go bankrupt or make you not be able to put food on the table and pay your electricity bill, then go ahead and buy it.

To a purist like Joe,,,the biggest waste of money in your life,,,to me its just called living.

That is my take.

Good luck!

@Marcos Gonzalez

I am the type of person that likes to see first hand what I am about to invest in. So if I were you I would get on a plane and fly to wherever you want to see and go see it.

Before you go make sure to make contacts on the ground.  At least a realtor who is willing to drive you around town all day looking at properties.  Also do your homework on the neighborhoods ahead of time so you know what you are looking at.

You are about to commit some hard earned cash on something so spending $400 on a round trip ticket somewhere isn't a waste of money. At least in my opinion.

Just my take from my personal experience.

@Shiloh Lundahl

Whenever I read a post whether I agree or disagree or whether it is spot on according to me or hot air, I remember that this is an open public forum.  

Anyone can sign up for an account and say whatever they want about who they are and the success that they have.

I believe it is my job as an investor to do my own homework and navigate my own path because in the end it is my money that is being risked when I invest.

I guess I don't get offended at some peoples outrages claims because I have enough life experience to know when something isn't right.

Just my thoughts.