All Forum Posts by: Steve Veen

looking forward to this event!

Thanks for the shout out...

Steve

Funny how negative this article can be about renting out your own SFH....

I love reading the comments below the article.... all talking about how horrible and risky it is to own a rental....   

 It is.... if you have no idea what you are doing.........

Good stuff!!

@Joel Owens   

@Josh Prince 

Thanks for the info. 

Josh, yes, that is what I meant by value play. 

Anyone else working niche areas of So Cal where there are MF properties that still would fall into this scenario? I'm looking to possibly partner up or invest in a syndication where the lead wouldn't mind doing a little mentorship. 

Thanks,

Steve

I have been reading up a lot about apartment investing via a value play. I was just wondering if the current up-swing market supports value play investing or is it better right after a price correction period? Specifically, I'm located in Southern California and want to know if this option is available locally here. How many of you are currently involved in this type of investment? And how long is the typical turnaround on a project. 1 to 2 years? Or is it more like five years? Thanks, Steve

@Will F. 

I just wonder if we are reaching that "out of control" stage in the IE again..........

Steve

Will F. That last comment can sure make you think!!!

@Jesse Velasco 

Hi and welcome Jesse...

Exciting stuff, isn't this?? Lol

You've got some good advice so far, mainly, knowledge and networking. I would start out by:

1. NOT BUYING +$1,000 COURSES!!

2. devouring the website here

3. Buying a few books that relate to wholesaling, or fix and flip, or buy and hold and spend some time getting to understand the key concepts of each. (Make sure the edition you read  was published after the crash of 2008)

4. Connect with some of the IE Folks here on BP. There are some that are well established and do many deals a year. And there are many that are learning just like you. 

I live on the other side of Chino from you, in Eastvale. Look for my colleague request and maybe we can meetup and chat one evening? Maybe we can work together in some fashion....

Good luck!

Steve

@Michael Modesto 

I haven't done any out of state investing yet, but over the last few years Atlanta and parts of Texas seemed to be hot... meaning you could get some good deals on rehabs or turn key properties - and better landlord laws that the Republic of California.

Not sure how well the market is working in those states now.

How's it feel being an accidental Landlord?  :-)

thanks @Jared Rine  and @Albert Bui 

Sorry for being so vague!! LOL

Almost every aspect of Albert's example fits except this is a lower valued property. It will appraise for $80-90k and I'm lookijng to get 75% LTV.

Does a loan amount under $100k make or break the deal?

Thanks again for the quick responses!

Steve

Hi @Michael Modesto 

Welcome to the site and conrats on making the life changing decision! Best of luck as you move on those goals......

I live close by in Eastvale... but I grew up in Chino, my first 25 years!

Do you have a preference on the type of property you are interested in? I know So Cal is tough to make work on the buy and hold ... what other states have you bveen researching?

Steve