All Forum Posts by: Bill B.

First, Javier Molina, William Strong, and Jason Minnich, thank you all for your service. God Bless you all. Javier, I may be wrong, but the last I saw Ridgecrest was under the same command as Pt Mugu in Ventura County. It is entirely possible that MUCH of the drone program ends up at the coast instead of in Ridgecrest. I'm sure that at least SOME of the program support would be in Ridgecrest, but it may not be the huge influx of people and capital that you're expecting.

I'm NOT successful (YET) in RE investing. The one deal I've done went bad. I'm closing tomorrow on a five figure loss because I wanted a deal SO BAD that I had blinders on. I've not been to Ridgecrest in years. But, it is (still, I assume) so small and so remote that its' real estate market is HIGHLY volatile and tied primarily to the defense industry. (much like Lancaster and Palmdale which are larger and closer to L.A. so, arguably Ridgecrest is even MORE volatile than they are...) REI at a very basic level is about supply and demand. I'd suggest waiting for a larger area like (as you mentioned) San Diego.....or...better yet?....somewhere outside California where the market is more efficient. Absent that, make SURE you don't compromise on your numbers. Make sure the deal is CLEARLY in your favor. Wait for "that deal". To say it another way, keep those RE agents laughing with the low ball offers....especially in Ridgecrest. DON'T make the mistake I made.

I hope this helps. Again, thank you, and your family, for your service to our most wonderful and precious Country. God Bless.

Hello
I've seen posts and profiles of people who own RE in multiple states. I've also seen posts and comments stating that anyone who rents out a property farther than easy driving distance from their own home should be in a rubber room and watched very carefully. I already understand the facts of being too far away to easily, and personally, address issues at the property. But, there are management companies who (for a fee) will take care of the property for you. Or, am I missing something about those services?

I'm seeking this information because I live in Southern California AND I am a newbie. Everything is being bid up within a half hour from where I live. Even in the areas where I do not want to buy. I'm contemplating cash flowing in WI, where I was born and where I have relatives (some basic support structure) Also, the market there seems to be where SoCal was in 2010-2011. i.e. a LOT of price cutting and REOs coming on market.

All that fails to mention that I can tie up several properties for a fraction of what I'd need to invest in one property in SoCal. (diversification should spread risk, shouldn't it?)

Please enlighten me. I'd like hear whys and war stories.

Thanks.

Bill

Thanks to all! I appreciate your input.

Hello,
I hope I’ve posted this in the correct place. Please school me if I have not.

I have 100K in cash and another 100k in IRAs that is almost ready to invest. There is a niche market in the mid-west that is turning right now. A LOT of price cuts and a LOT coming onto the market. (it seems....more due diligence is pending....) I've been reading books and living on BP.

I've been poised by the side of the pool for some time and want to jump into Real Estate Investing. I would have ALREADY jumped in....AND pulled family and friends in with me.....if it were not for the general GLOBAL macro-economic state. (I read a LOT of current events and my favorite TV program is CNBC’s Squawk Box.)

I know...I KNOW…..there is never a perfect time. But, do I load up with leverage and fully invest in RE just when the WORLD seems poised to go through a catharsis that will make 2009 look like a kindergarten picnic? But, it also seems like a perfect time to pyramid cash flow properties in the previously mentioned niche market.

So….do I put 100k into gold and 100K into REI? Is it that simple? Does anyone else worry about this? Has anyone else even followed the global economy? Should I be in the proverbial rubber room with a tight fitting jacket?

Thanks to all in advance!!! This community is GREAT!!! In my opinion, BP represents the BEST of America!

Bill

Thanks for the tips!! GREAT site with GREAT people! I wish I knew about biggerpockets years ago!!!

Thanks for the input! I appreciate your time and help very much.

Thanks Ned! And thanks again for your help on the other thread!!

WOW!!! I can't thank everyone enough!!! (I'd list everyone by name, but I fear missing one and that would be so completely wrong...) This is my first interaction with BiggerPockets and I have learned MORE from this one post than I thought possible. I am going to do a LOT of research on tax liens, notes, lending to other investors, and buy and hold. (I THINK I covered all the topics. If I didn't please don't think I've crossed any off my list. I'll be re-reading the thread many, MANY times and vetting it all.)

Thanks again to all. A great, great thread.

Bill

Thanks Ned! The homework is growing by the minute! I appreciate your time and help.
Bill

Hello,
I just received some very good and fast help from Marco Santarelli. Based on his help, I'm backing up to see the bigger picture that I may have missed. I know that there will be many differing views on this question, but I want to hear them all.

If you had 100,000 in an IRA, how would you invest it in RE to maximize returns in the next one to two years? Flipping? Cash Flowing? A combo of flipping and cash flowing? Tax Liens?

Any and all ideas are wanted and encouraged.

Thanks to all in advance.
Bill