Quote from @Michael Loperena:
Hello Bigger Pockets community!
My name is Michael, and I'm excited to join this fantastic forum to learn and connect with like-minded individuals. I'm currently based in San Jose, CA, and have a strong interest in multi-family properties as a means to achieve financial and locational freedom.
A little about me: I don't own any rental properties yet and am in the process of paying down $25k in debt from a failed business ($15k at 10% interest and $10k at 0% interest). I've been able to save about $1,500 per month while making minimum payments on those debts. My goal is to gain knowledge and form valuable relationships that can help us all find great deals.
I'm looking for advice from experienced investors, particularly those familiar with the California market. I'm feeling a bit discouraged by the high prices of multi-family properties in California and am considering the possibility of investing out of state. However, I find the idea of being able to visit my property without taking a flight quite appealing.
I'd appreciate any insights, tips, or guidance you all might have. Should I focus on out-of-state investing, or is there a way to make things work here in San Jose? I'm eager to learn from your experiences and wisdom.
Thanks in advance for your help, and I look forward to getting to know you all and contributing to the community!
Best regards,
Michael L
Hey Michael! Welcome to BiggerPockets and thanks for joining!
Here are some tips for networking and making the most of your account.
1) I'd fill out your profile fully before you do anything else! As that will at least help folks that you reach out to know that you are a real person, with a picture and professional bio. Particularly be sure to include your goals for real estate investing so that folks can help you.
2) Go to the Search bar, and look for some local members in your area! Reach out to a few of the folks, perhaps those with hundreds or thousands of posts in this forum, and connect. You can do that here.
3) Check out some of the local meetups that you can find in this forum! There are so many so be sure to filter by your location.
4) Review this comprehensive 64 page deck on the state of the 2023 housing market (in your resource page as a member of BiggerPockets!) for real estate investors put together by Dave Meyer and available for all BiggerPockets members.
5) Consider meeting with a few agents in your area even if you are just getting started! An investor friendly agent can do all sorts of helpful things, like setting you up with a search for properties or connecting you with folks who have recently done deals like the ones you want to do.
6) Consider analyzing a deal or two in your local market, just for practice, with a free use of our Rental Property Calculator (or other calculators).
Hope this helps! Please reach out with any questions you may have!
