All Forum Posts by: Sherwin Gonzales

@Edward Robles wow...I'm impressed! At only 19 years old, I think it's great you're already thinking about REI and the BRRRR strategy. At 19, I was barely out of high school and thinking about college life and classes and stuff. Seems like you have a great support system already in place with your dad's company. You're already saving money and working on your credit, which again, for 19, that's really impressive. I would advise to just be careful with analysis paralysis. I think it's great you're reading books and listening to podcasts.

But at some point you have to take action! And break down that action to little baby steps to get you to that big goal. For example, you want to BRRRR. Go look at properties around your area or whichever market you like. It's free! I recommend reading the One Thing by Gary Kellar. He talks about the domino effect and how achieving a little goal will lead to achieving your bigger goals. Good luck on your journey.

Information is not knowledge. The only source of knowledge is experience. You need experience to gain wisdom.
Albert Einstein

@Morgan McConnell thanks for sharing your story! As many have said throughout the thread, flipping, as in any investment is a risk, especially if this is your first flip. You may find yourself more in debt after this deal! There's a saying that you won't make money on your first investment, but you'll learn a lot.

With that said, I would suggest you try to find a balance of what you and your wife is comfortable with. The Suze Orman and Dave Ramseys of the world would advise to pay off your debt first, especially the ones with the highest interest rate. I'm assuming your car notes are lower interest rate, which might be fine. 

There's good debt and bad debt. Good debt makes your money. Bad debt doesn't. I would get rid of the bad debt that is making you lose money every month through high interest rates. Then maybe you have debt with lower interest rate that you can still have to build credit and then you can take on more risks with your investments.

Hope this helps! Good luck!

Hey @Account Closed- I'm located in the Bay Area and also have investment properties in Stockton particularly commercial mf. What are some of the investing experiences you have in downtown Stockton? Do you invest in sf or commercial mf?

@Chris Hansson that's great you're interested in Stockton for MF investments. Just wondering why you chose Stockton specifically? Are you interested in doing a deal of your own or joining a syndication as an LP? My team has a few properties in Stockton and our 16 unit is pretty stable and giving us nice returns.

Yes, as @Kenneth Veiga mentions, Stockton has had financial problems & crime issues but we believe the city is turning a new leaf. Plus, a few years ago, people were saying the same thing about Sacramento and now Sacramento is one of the hottest cities to invest in in California!

I also agree with @Jason James in that Stockton, like most other cities, are block by block. Where you invest depends on your strategy, whether it be to buy and hold or BRRRR.

@Blake Edwards how you doing? I believed we actually met at one of my properties?

@Alan Zee great topic of discussion!

REI, especially multifamily, is HOT! It's the "IN" thing now. It's like those flipping shows on TV that are so popular that makes everyone want to be a flipper as well.

I'm in the Bay Area, so real estate here is in it's own Twilight Zone. Property owners knows the market is hot and wants to capitalize on that by listing their prices at outrageously high prices, especially commercial mf.

We don't....never...see doors here at 30k to 50k. I'm closing on an off market property in Sacramento this week at 106k a door, which is a great deal, because units in that area trade for 120k at market and up to 150k for a renovated unit.

There's always deals to be made in a up market, in a down market, in a hot or cold market. Sometimes you just have to be creative and make your own deals even tho it at first, doesn't pencil out on paper.

Good luck!

@Gi'angelo Bautista, where in Stockton does your team does flips? 

@Bryan Jacob Heilman my team has commercial mf properties in the Stockton and Sacramento areas. But we are based in the SF area. Are looking for meetups locally closer to where you're at in Lodi? What types of properties do you wholesale?

@Sasha Josephs I think that it's great you are looking "locally" to invest! A lot of people tend to shy away from investing in California because they say it's too expensive.

I have 45 units in Stockon right now and I agree with @Kyle J. in that the rental market is strong there. As Brian mentioned, people who work in SF are flocking to tertiary cities outside of SF to live as the price of housing is ridiculous!

I've had no trouble renting out my units. All my properties are value add/ value management properties, so we build and create our cash flow. There's deals everywhere. Sometimes you just have to have an open mind create them!

@Brandon R. Welcome to BP!

Always good to see people from Hawaii join BP and congrats on taking your first steps on your journey towards real estate investing!

I was born and raised on Oahu but now live in the Bay Area. My team has invested in commercial mf properties here in the Bay Area. We have, however, expressed interest in investing in vacation homes in Hawaii.

What are some of your favorite podcasts that you listen to? Lane Kawaoka, another fellow Hawaii native, has a great podcast I listen to called Simple Passive Cashflow.

Good luck on your journey and don't hesitate to contact me if you need any help!

Mahalo!