All Forum Posts by: Account Closed

^^^ Like he said, not understanding the market and just taking the word of an agent/property manager. I would honestly take a trip over to the area just to get a feel of how it is and meet up with someone who's doing what you want to do in that area. You can ask all you want, but can't beat experience. 

Art Of War by Sun Tzu. That book is a must read regardless, has helped me a lot. 

Building a team as in, find someone who is strong at what you're weak at. Say strong in analyzing deals but suck at cold calling. Find someone who's willing to do it with no hesitation. Reading books, watching podcasts, etc. They're just tools/marketing tools to get you moving in the right direction and to continue to spark your interest. Real life application is completely different. Network with people who have done it already or ask who's good at making calls. Sometimes you just gotta throw yourself in the fire and you will make a lot of mistakes, no way around it. 

I feel like most people asking this question are overthinking it too much because make lots of money with basically no risk, maximize yet minimize, want to become superstars right off the bat and hope the area is booms in the future. Multifamily has several variables to take in consideration. Just pull the trigger on it if you have the funds or team up with someone and don't be selfish about it.

Damn, I would lowkey catch hands with my neighbors if they did that lol. It's your home anyway, why are they determining what to do with your OWN home just because they be bitchin. 

Little homie, if I were you, I would join toast masters or a chamber of commerce in your area. You can introduce yourself as aspiring real estate investor, speak about the subject, your interest. Rather teach someone because if you don't know it, it gives you more motive to go back and look on it and learn more about the subject. Not necessarily go straight to a real estate event, but it's mainly about networking. Learn to talk to people first and get comfortable with it. People will chew you out and spit you out in this industry. Learn to take out the "Ums and Uhhhhs". It's difficult because I'm currently going through that. Real estate investing is a business overall, doesn't have to be just real estate related. Many investors are sometimes your normal day people/ in non real estate businesses.

@Edward Tamayo Bakersfield is lit af. My friend and his dad invest in that area and are doing great. Great opportunity there and yes I agree, lots of landlords in LA are getting burned, but at the same time, some of them couldn't put their egos aside and try to go against the city or did everything they can to evict a tenant and ended up paying a lot. Yet several didn't treat their tenants right or didn't bother to reinvest their money to keep up with change/ worst case scenarios. How I see it, it's an investment. If your investment ain't maximizing then move to a different asset class or area. I'll never understand why people want to stay/invest in LA especially seeing the change so fast and the sh*t that's going on. I'm pretty sure they didn't expect for this whole ronni rona thing to happen but it sure did test the survival of the fittest in the multifamily area. 

Oof, good luck. I had my friend evict a tenant at the beginning of the year and had to deal with all that bllsht and took months/money. Hopefully all goes well for you! 

Oh aight, for sure bro. Hopefully whenever time allows, we can connect soon. 

@Alex Duarte have they ever considered a 1031 exchange?