All Forum Posts by: Jonny C.

Hey everybody!

I'm a long-time lurker and voracious reader/listener to BP. Long story short, I left a secure hospital job to be a Realtor about a year ago. It has been a challenging but rewarding year. I don't think I would've finally given myself the push to get into RE investing if it wasn't for becoming a sales agent.

From any one's experience, I'm curious as to how difficult it is to get a loan if your income isn't stable? The more experience I get, the more I'm starting to get consistent business. But... I mean it's still sales.

However, my goal is to start getting some investment properties around the Bay Area. I currently live in SF. I have really good rent through a family friend so I won't be leaving any time soon.

I have zero debt, decent savings, credit score of 820. 

I was thinking of an FHA loan and then using some money I have saved up to do some light rehab. I'm interested in 2+ unit buildings in the BA. As long as I'm net cash flowing, say +$200/door a month, should they OK me? Is +$200/a door with an FHA in or around the BA wishful thinking?

My passion is RE investing, I've been hooked for a while and find it really inspiring that people (@J. Martin, etc.) from around the Bay Area are doing, what I used to think, was impossible if you didn't have a huge bank roll.

Anyways, is this doable for a person in my situation? Or should I got back to a 9-5 in order to have some steady income and then apply for the loan? 

My goal is to have a net positive cash flow of 24K/annually within a year. At this point in my sales position, that net of 24K/annually + my sales job would put me in a more comfortable place. I'm fine with being frugal for a while, so long as I can take those commission checks and keep reinvesting. 

Now, I'm rambling lol. Thanks for your time everybody! I'll be at the next SF MeetUp. Hope to meet some of you there. Grazie!

-Jon

I live in SF where prices are out of control. Would anybody know of some relatively safe/low money down investments in Nor Cal? I'm looking for a sfh or duplex to buy and hold. Any suggestions? I'm very familiar with the SF market but am looking to invest outside of the City. Thanks everybody.

Thanks for the great advice everybody. Any podcasts in particular you'd recommend?

So I am going to start out part-time (30+ hours a week) until I get some steady clients. I just finished Gary Keller's book Millionaire Real Estate Agent, but what else can I do to market myself? I'm going to update my linkedin, make a facebook realtor page (I already update mine with r.e. photos), and I'd like to get a web site started soon. What do you all recommend as far as marketing goes? I want to be the first one people think of when they think about real estate. I live in San Francisco and the market here is probably crazier than New York. Will fliers and cold-calls still work here or not? Any help is appreciated. Thanks!

Hey everyone,

I just passed my real estate agents exam and now I am on the hunt for joining a good company. I want some experience before I look into getting my brokers license but was wondering if it would be beneficial getting the California brokers license? I would think so because I could double my commission income, but what do all you seasoned vets think? Thanks everybody!

Thanks Shawn and Charmaine. I guess I'll have to get that book. Any other suggestions are appreciated.

Would anybody recommend those Brian Buffini books? Somebody told me about him the other day. Is it worth it?

Thanks Thomas. Any free info you all could recommend would be even better. I used to order all these get rich, self help garbage books and I'm about saving, saving and getting that free info. Thanks again everybody

Hello,

I want to start as a real estate agent soon but was wondering if there are any PDF files, eBooks, or articles from this site that you all would recommend to be a great agent. I want to make sales and learn as much as possible. Thanks everyone!

So I'm a little nervous to start out as an agent because I'm afraid I won't make much my first year. Are there any positions people would recommend so I can get a salary, and basically get paid to learn and eventually do REI on the side. Any other ways to make descent money and really learn the biz/have a mentor? Thanks for your time y'all.