All Forum Posts by: Joe Moore

I bought from HUD. Do your due diligence as any other property.

You need to talk to an attorney about title or minimal a paralegal.  Join Legal Shield for legal advise.

@Will WuThat a lot for roofing. Are that for single family or what size multifamily units?

I believe in myself, I believe in taking risk and I believe in getting lucky.   I don't believe in taking a walk on the wild side without some form of protection.  When there is too much risk, where there is no room for error, no room to relax, where failure is one misstep especially where others are totally depended on to make something work.  Do you like playing Russian roulette with your financial future?  You need to increase your income and/or decrease your expenses.  Push back your date to purchase 6 months to 2 years.  Start at a smaller price entry point.  The no. 1 reason for business failure is undercapitalization.  As an engineer, you know that this situation doesn't pass the stress load test.  Something is bound to break the camel's back.  Give yourself a decent chance to be a successful real estate investor.  This is a move to almost to certain failure.  Going too big in the beginning can stump your career and leave a bad taste in your mouth.  You need to make a better plan, plain and simple.

@Oliver Sparks - If you start on a less lofty goal such as a sfr, duplex, triplex or quad it would be much easier to do. Capital expenses can blindside you and knock you out the game with a bad taste in your mouth and sour you on real estate.  Starting smaller will give a better chance at becoming successful.  As you gain experience, you will understand what is required of you including how big of a project you can handle and how fast you can grow.  It will also give you some credential when you talk to others about partnering.

@Vivian Pena Welcome to BP.  Happy to meet another fellow Angeleno who recognize and willing to leave L.A. to invest elsewhere in order to get started sooner with less capital.  I agree with @Michael T. list of best states to invest. 

Link don't work.  Please send me pdf.

Thank you, Joe for starting this thread. It is a field I am seriously considering. Lots of great information here. A very timely thread for me. Wishing you continuous success.