All Forum Posts by: Michael Lee

@Michael Lee Thanks Michael. I will definitely reach out to you, I'm always curious of how other people started in real estate. 

I just wanted to share my first investment property deal with the Bigger Pocket community. I learned so much from people on here that I want to thank them as well as this great website. I used my VA loan to purchase a three unit in the Sacramento area. I am living in the front unit and the other two are currently being rented. I am collecting $1250 in rent to help pay off the mortgage. I understand that this wasn't the best deal on paper. But I feel that for someone like me with little money this was a great deal. I am paying $550 to living in the front unit. I plan on living in this property for a couple of years and I work on upgrades before I rent out the front unit. I have already learned so much about being a landlord. I look forward to the future as my real estate investing career has just began.

 The lot rent is listed right in those ads so I'm kind of surprised you had to come here to find out about that information. You might want to pay closer attention to the details and read all the information available to you on any prospective investments you look at in the future. 

If you are working in Irvine, you'll find it is one of the most antiseptic cities you'll ever visit. I used to live there and own rentals there. Very beautiful, but a total bore.

I am a military veteran, served 8years in the United States Marine Corps. Honorably discharged in 2006, did some college, technical schooling and life lessons along the way. I have been involved in some sort of real estate since 2010. Whether it is education products or courses. 

Now I am working with like minded individuals that help property owners and would be property owners. I am excited with all that this brings. 

Hello BPers!!

My name is Michael and I am an aspiring investor. I have no experience in real estate, and I come from a mechanical background, but I have the thirst for knowledge, the intelligence to learn, and the fiery will to pursue and create. I first became interested in real estate when my wife made me attend a real estate seminar in Hawaii, and something inside me clicked. I didn't buy any program or pay for any advice, I just knew this is something I really want to do. I've read about 7 books, of which many are featured on the BP podcast (that I listen to constantly), and I peruse the BP site quite often as if I'm returning to an immersive, engaging, and lushly detailed series of inspirational stories, which IMO describes this site pretty well.

You may or may not see me commenting on seemingly random topics, as I'm sure we all do, but please feel free to reach out to me. I want as much advice as you all can give. My next and hopefully last contract will be taking me to Abu Dhabi, so if there are any investors that reside there, please pass that information my way!

Lastly, I really do love this site. The sheer amount of interactive knowledge that I somehow stumbled upon is enough to make me feel like I found the best kept secret in the world, and I want you all to know it's all thanks to you. I look forward to seeing you all in the forums as well as the rest of the site!

Sincerely,

Michael V

Hey Everyone, 

I am on the state of mind of becoming a real estate investor, I really want to become an investor. I am currently going to school, seeking internship programs and reading books to help me learn the fundamentals and start getting a taste of real estate. 

I invest for income and growth in the US and abroad. I have properties in four states and three countries. I am looking for properties that provide a good cash flow in $100-$125k range SFHs or Condos. Newer builds and good neighborhoods.

How do I deal with the professional investors at the local auctions - Southbay, Los Angeles. 

How should I expect the so called 7-Angels to react to my bidding and would i have a better chance of success buying from one of them directly shortly after the auction (or something to that effect)?

Thanks

I am interested in a property scheduled for sheriff's sale but not sure if I should give it a shot or not. 

The property is owned by a business, but the business owner passed away a few years ago. The property has $150K IRS lien.  The property value is about 600K, first loan is 250K.

I have mainly two concerns: 

if the IRS lien will be wiped out or not. The IRS lien was recorded after the first mortgage judgement. 

For this kind of ownership, will it be more risky to have title issue? For instance, someone shows up claiming being the business owner's relative/heir. 

Any advice would be greatly appreciated. Thank you in advance!

Attended my 1st foreclosure auction today. Learned a few things, met some people and realized real quick all the good deals I had run preliminary numbers on were getting bought by a representative of a large investment group.

I'm glad I had already planned not to bid in this auction, it might have been frustrating to deal with that. This representative (Bryan was his name) out bid everyone on the properties on his list and with authority I might add. 

These properties were the same ones I had identified as the "best flips", so it would appear I'm looking at the right properties, buying them at auction could become a challenge though.

Still working on financing options for a auction. If anyone knows of some good strategies I could investigate that would be great.