All Forum Posts by: Julian Rivera

@Aaron K. Will do! I would not mind purchasing further from me but Fanny Mae would require me (the buyer) to live in the residents over a year, and my job is here where I reside from. If you know (from what I was told), is it true, a first time home buyer MUST finance through an FHA loan?

@Taylor L. Honestly, out of state has been in my consideration for quite some time but ,wouldn't I be at much higher risk of something turning sideways? I truly believe it's possible, but I'm a little hesitant to consider the downfalls. I believe the market in Arizona is by FAR much affordable than the California Market. What big key factors would I have to consider purchasing/renting out of state? What would be my risks of doing so?

@Linzey Ledesma

Hello Linzey,

I've also been looking into partnership (co-signing) to better my approval for a loan = greater inventory. Unfortunately , it'd be a quite difficult structure for one to make passive income on a rental property alongside with a partnership, therefore I've decided to purchase alone as first time home buyer myself (gain experience). I've spoken to a lender and unfortunately, my buying power as of now, is too low and was recommended to purchase further out into a different market. I would rather invest within my vicinity. I'm into landing another job that'll increase my base pay/OT to run my income credentials once again to see my leverage/ purchasing power. 

What field of real estate are you mostly interested in? Buy and Flip? Buy and Hold ? Commercial ? Raw Land ? BRRRR?

Hello BiggerPockets Community, 

I'm 23 years old, reside out of Moreno Valley California. Word has it that Riverside (next door to me), is a hot and growing market! As for a beginner wanting to expand their own passive income/portfolio, I'm fully aware , an investor must be as frugal as one can be and save more than 70percent of their income in order to purchase their own property. I've saved plenty of capital but notice the market around me is way out of my range and would be difficult to get pre-qualified for a loan. What would be a pro-tip or suggestion for me to kick start real estate investing? (highly interested buying and holding) I'm open to many opinions and would love to hear many (in Inland Empire Area) that have successfully invested in my similar market! I look forward to connecting with some of you and hope to gain as much knowledge along the way!

@Aaron K. That's why the thought of co-signing came up. What about when it comes to HUD homes ? Buy and fix them up to value ?

@Aaron K.

I had an idea it would complicate the process of jumpstarting my first investment. I want to invest within 30minutes of my residing radius. So more than likely I would want to invest locally. I would say my skills upon real estate would be at beginners level, but have been investing my time learning the basics for the past 2 years and obtaining more along the way. I'm very much frugal, not much of a spender since I was a youngster so the income I make, I save much over 70% of it. I would say I have 11k saved to start , but still studying my current market along with others to see where is best to invest. I'm more interested on "buy and holding" but also interested learning more outside the box (wholesaling, commercial) etc., along the way. 

Hello , My name is Julian Rivera , and I reside in the city of Moreno Valley California. I've grown a great interest into Real Estate Investing and hunger for financial freedom. I have a question and open to opinions or shared experiences if applicable. What are the pros and cons of having a partnership with a first rental investment? Is it a good or bad idea? I would love to be educated by anyone with little or plenty of experience and look forward to chatting with BIggerPockets Members!

If anyone in any way or form have boosted their credit through being an active using on others account , to have their score reflect on yours, please if any information is helpful!! I’m currently obtaining all educational advice before diving into my first purchase .

I’m excited to learn more about the Biggerpockets Community!