All Forum Posts by: Tim ORourke

@Sam Wilson - Thanks for replying and for the recommendations! Would be awesome to provide a solution for compensation as a result of this project.

A Systems Engineer typically designs, improves, and manages systems, which are then followed to develop something (end product) which is then used by customers. SE's like to manage projects and organize how they come about.

To answer your question, I am hoping to identify and attempt to improve any efficiency issues or problems that RE investors are having.

What's a painful part of the process that could be/should be improved?

Hi All!

RE Newby here.

I am a Systems Engineering Masters Student and have started the planning phase for my capstone project. I am hoping to do a project on something real estate related.

Does anyone have any RE issues or problems that could be improved with some sort of software, planning, system, or tool?

Much appreciate your thoughts!

Thanks,

Tim

Hello All,

I am a Masters student in a Systems Engineering program. I am starting my Capstone project this term and want to do something on real estate.

Any ideas out there on something that can be improved or streamlined in RE? Something that can be developed, such as software, tools, processes, etc.

Thanks for the thought!

Tim

@Nabil Suleiman - Much appreciate the comment Nabil! What you've said definitely makes sense. I am actively listening to podcasts and reading books. Do you know of any real estate meet ups in this area? I would definitely desire to attend to network and learn. Thanks for the great recommendations. As you said, definitely don't want to get analysis paralysis and never take the step.

@Ali Boone - Thank you so much for taking the time to comment with your experience and wisdom. This is great to know and reassures me that I am not thinking incorrectly. Thank you very much for the link as this information is helpful.

@Peter D'Auteuil - I appreciate the comment and for sharing what you know. I live in the El Segundo and hope to stay near by to limit any sort of commute to work. Don't have any desire to be stuck in traffic all day. What areas near El Segundo do you recommend? I've definitely looked around but can't seem to find anything I can afford and would want to live in. Very cool to know that good and great deals can be created. I am very excited for the day that I can be confident in my knowledge to make those types of moves. Insane that you got a 4 unit under appraised value. 

@Jeffrey Isenberg

Hi Jeffrey! I would also love to participate in the meeting ups!

Hello Everyone!

Fairly new to the BP community and excited to get involved.

I currently live in Los Angeles, near the LAX area, working as an engineer in Aerospace. I have prioritized savings and want to take the next step in securing my first rental property. I was hoping to find a house hack while living here in LA but that doesn't seem reasonable when trying to stay within 10 miles of work.

I've been looking around and can't seem to find properties in the area that would have good cash flow and ROI. This is likely because the barriers to enter are too high for me currently but this leads me to the question of, what's currently working for investors out here?

Are there any new investors living in LA that have been successful without being already quite wealthy?

Thanks to everyone for the help.

Tim

Is there anyone who has read both of these books and cares to comment on their differences?

I'm looking to pick up some more books and these both seem great but also seem similar. Is it worth reading both? If so, in what order?

Thanks for the help!

Wow thank you to everyone for the amazing comments! Needed some time to digest these words of wisdom.

@Julio Gonzalez - Thank you for the warm welcome!

@Tyler Howell - Great recommendation on adding or looking for a separate entrance basement as a way to house hack! I am not hugely familiar with the area but have seemed to locate the 470 loop you mentioned. I'm looking to be relatively close to the ski resorts but also near aerospace companies. Looks like the south side (Centennial/Littleton area) and potentially north side (Broomfield area) of the 470 loop has this to offer. Great advice!

@Chris Lopez - Much appreciate the comment! I am currently working and living in the El Segundo area. I am indeed renting and I appreciate the recommendation on buying something where I live to house hack. Unfortunately, I am not finding anything that is considerable in this immediate area. Staying within a few miles drive/bike from work is a huge factor I am considering. You know how LA is and what a waste sitting in traffic can be.

@David Gwilt - Thanks for the advice! It sounds like we would get along. Good to know about going FHA on a 2-4 unit. I'm glad to hear that some people are making it happen out here! It would be extremely helpful to see modeling on this type of investment. Fingers crossed that there is something worthwhile nearby. Shoot me a message so we can tag up to discuss. I greatly appreciate the offer.

@James Carlson - Thank you for taking the time to give your thoughts! I agree that Tyler's idea of a new build with walk-out basement sounds great. By the sounds of it, I imagine going this route would still result in difficulties even breaking even. It would be tough for me to consider an investment that pulls even more out of my pocket while living here in LA. Colorado Springs sounds great but I find it hard for me to want to live there as it is further from my hobbies (snowboarding/mountain biking). Maybe I'd be better off continuing to save up cash and invest it in the stock market in the meantime. 

Again, I greatly appreciate everyone taking the time to comment on my thoughts and provide some wisdom. It is great to see how active this community is and am very excited to be a part of it during my growth in real estate skills. 

Thanks!

Soon will have the 25% for a $500k investment, but not sure I want to tie up all of my free dollars.