All Forum Posts by: Patrick Penderel

I'm just getting started as well.  I'm from California so I'll be an OOS investor.  Hit me up if you want to discuss anything.  Just like you though, I'm just getting going.  So, new to most things.

Hey Vince!  I'm looking to get started investing and I'm learning and waiting to make that first deal.  The more people I know in the industry, the better.  So, happy to meet you on here. 

Thanks!  I'm really debating on how I'm going to do that now but I'm determined to get that first one this year.

I'm having a similar problem.  I'm not sure what to do yet either but location matters as you know.  I think going into a lower middle class area would be preferable but may be harder to find a deal.  If I were to go into a tough area it better be an amazing deal is where I stand right now.

I tend to lean towards not touching retirement accounts.  But I might like a little more security than most.  However, if your $30k isn’t in a tax sheltered retirement account then I’d have no problem cashing that out and putting that into real estate.

Some people might ask what’s your annual rate of return on the $30k and that is very important and something to consider.  However, it’s also important to get started and not forget the long term gains of real estate.

I am in a similar situation myself.  I have $18k in mutual funds and I’m cashing out about $13k to help with my first investment property.

I’d be very tempted in your situation to look for a side hustle as well and try and up your annual income.  

Hope my thoughts help.  Best of luck!

To get my first property.  Nice and simple.

Can you add some details?  How much is in the 401k?  How much capital do you already have?  What’s your current stream of income? Etc.

Thanks @Joshua Noth! I'm definitely reading and listening and I'll be attending my local REI group soon and meeting with some other people in the field. Thanks again for the advice!

Hello everyone! I'm so glad that I found this space a few years ago and now I'm just starting to get serious about my REI journey. I feel like there is so much knowledge out there and I feel like I'm being tossed around with the ideas in my head of what to do to get started. Any insight that people want to give would be greatly appreciated for my situation. I have little capital, about $40k, in the bank and I have about $150k of equity if my personal residence. So, I've got some things to work with but not sure where to go. I do want to keep my first investment local. I reside in the central valley of CA.

I'm just getting started but my goal is to acquire my first rental property and to get very involved in my local REI group through meet ups.

I'm also planning on reading several books about REI and educating myself as much as possible.