All Forum Posts by: Omi C.

Noob question alert - you've been warned!

I see a lot of posts about people finding properties before they hit the MLS, and how the properties that reach the MLS are the "leftovers" that the real investors didn't want. I understand that networking and marketing is the key to discovering these properties.

What I'd like to understand, however, is why any property owner would choose not to list their property if they are in fact trying to sell it. Wouldn't an MLS listing ensure the widest possible audience, creating the highest possible demand, thereby giving them the best chance at selling the property for a competitive price?

I'm just trying to understand whats actually going on here?

Omi

Thanks for the warm welcome everyone!

@Joe Fairless Really useful tips, again - thank you.

@Jonathan Jimenez thanks for the pointer to the meeting in LA. Indeed I'm looking out for investor meetings in a lot of Nearby areas (Bakersfield, Visalia, etc). Networking makes the investor world go round!

@Minh L. Cash-flow like the Midwest appreciation like California? Yes! Give me a dozen of those please. :-)

@Justin Escajeda Great point that it takes work to manage the managers. No free lunch.

@Paul Timmins Thanks for the tips.

Thanks for the welcome @Joe Fairless

I have been looking at unemployment, and population using city-data.com.

What are good sources of data for Job diversity? How does one measure landlord friendliness?

Hi all..

I’m a newbie from Santa Cruz, CA!

A few months ago I realized that my retirement plans (stock, 401k, etc) would have me working for far longer than I’d like to. I had always been interested in real estate, and with some encouragement from a couple of friends I started reading investment books and doing some research. Didn’t take long to find BP and this incredible community. At this point I’m totally hooked, and am looking to start investing.

My goal is to replace my income with rental cash-flow in the next 5-7 years. The longer term goal is to become a part time investor (4hrs / week sounds about right! :-), and have more time for my family, and hobbies!

My strategy so far:

• Buy and hold. I want the regular passive income
• Multi-unit. Reduce the risk of losing all income if I lose a tenant.
• Hire property managers. I have a family, and a demanding full time job. Don't want to create another job for myself.

The big question is where to invest. Cap rates in Santa Cruz and the surrounding Bay Area in general are horrible. Also, for my first market I’d like to be able to visit it (investigate neighborhoods/properties, interview PMs, agents, etc) without incurring a huge cost. So I’ve been looking at other cities in California - Bakersfield, Fresno, Modesto, etc. This is where I’m a bit stuck in my analysis. I’ve found individual properties which *could* work in each of these cities, but don’t understand how to ultimately pick a market and get going. Any advice for me?

I’ve got some seed money put aside for investing and I’m eager to start building a portfolio in the next few months. Really looking forward gaining some experience, and being able to contribute back into this community!

Omi