All Forum Posts by: Miles Abrenica

Originally posted by @Peter Vekselman:

I would definitely not wait.  Every day you wait from taking action is another day you will further be going into the whole.

There are other options in real estate other then just putting down 20%.  For instance you can wholesale deals without really having any money at risk.  This strategy will allow you to build up capital.

You can also partner with other investors.  Another thing I will tell you is I would connect with a big investor in your area and see how you can help them.  This is one of the best way to learn.

So do not wait, figure out a technique that will allow you to get into the game immediately.

Peter Vekselman

Hope that helps, if I can be of any other assistance please do not hesitate to PM me directly.

Hi Peter, thanks so much for all the advice! I understand the basics of wholesaling, I'm doing some research on the process here in CA. I definitely will be exploring that as an option. Do you have any tips on what methods have worked best for you, as far as finding deals? 

I imagine finding an investor to fund a deal would be difficult, and honestly a bit intimidating as I am brand new to the game. I am planning on attaining my RE License, and get familiar with the system. Do you recommend this step? 

@CJ Berina Thank you for your reply! We will definitely pop on by for your next meetup. We just had dinner on Reseda last night! 

Is your first deal here in SoCal? I was told house hacking wouldn't be really beneficial in our area due to how expensive properties are now. 

My husband and I live in Chatsworth, CA and recently learned about real estate investing just 2 months ago. We are committed to learning everything to be able to achieve financial freedom ASAP! We both currently work full time, with great incomes. Unfortunately, we don’t believe we are financially ready yet (but I hope we’re wrong). Before reading Rich Dad Poor Dad, and Set for Life, we had NO idea the financial hole we were digging for ourselves just enjoying life’s pleasures. We both have school loans, and car payments that are weighing on us even with our income. And virtually no savings. In order to start investing, is our only option to wait another year and save? Should I wait until we have 20% for a down payment? And THEN start? Our goal is to invest in rental properties to create passive income to fulfill our “why”, which is for us to be able to travel the world and spend more time with each other and our families. Would someone be able to give me some first steps I should take given our situation in order to be able to get started on our investment journey? Would really appreciate some suggestions! Thank you!