All Forum Posts by: Jennifer Jo McCallon

I'm working on a blog post that got me thinking- people have ideas about what its like to be a real estate investor, or what real estate investing is like, and I'm wondering what your experience is with this? Are you thinking of investing in residential income? What do you think that will be like in the next 2-5 years? Have you invested in the past?  How would you summarize your experience overall? Thanks!

I have a group of six parcels for sale together in Oakland, CA. Cash flow is approximately $13,500/mo. Seller wants $2m for the whole lot of them. They are located in the Fruitvale District, contact me for more details.  BRE 01910942

When I bought my first investment in Pittsburgh, Pa, the interest rate was 8%- nothing bad happened. I held onto it long enough that it worked out. You have options with the rate- you can buy it down, get a 7 year ARM. There will never be an exact right time to buy. If it cash flows, make it happen.

Everyone here is offering you great advice, I'd just like to add, it really isn't that hard to get your license, it doesn't cost much, it doesn't take that much time and the exam is probably not the hardest you'll ever take (assuming you went to college). Just go for it. It is worth it to educate yourself on the state's laws anyway. 

ITA with finding local meetups. I started investing just by reading books, talking to an uncle I had who owned one duplex and studying the market. I bought my first duplex after having my second child in New York City- we were so over living there so we bought a single family home AND a duplex in Pittsburgh, PA. The numbers penciled out and we just *went for it*! It is all about decision making. You should find a great realtor who can talk you through things, someone you really trust. 

I made mistakes, but I still made money. You are welcome to call me for a chat whether I am in your area or not, just for some advice and encouragement. 

I think you can find this in Braddock, PA, but why go so low? Even if you are paying all cash, I would leverage instead. If you are getting a loan, the closing costs are the same (escrow fees, loan fees, title insurance), so you are better off buying in the $200k range. 

If it cash flows, buy it. If you can buy a duplex for 20-25% down and the rents are enough to cover the mortgage, taxes, insurance, maintenance, vacancy and there is enough left over to cash flow, why would you wait? That is like waiting to get a job until jobs pay more. 

I don't know how long it took from learning about property to deciding to buy property but once we decided, I bought something within a few weeks. It is all about the decision making. I am also an agent and I LOVE working with DECISION MAKERS. They are the ones that actually make money. Sitting around and talking is easy. Doing is scary, but it is what makes some people very wealthy.

Keep us updated! This was a fun read.

Have you considered vacation properties in California? We have one in Napa/Berryess and one in Guerneville. Lower price points, generally have to do 30 day stays, but with so many people working from home, it works and is more manageable than super-short STRs and more profitable than LTRs.