Buying First House Investment/Live In

[Bluemoon06]

brad87 real estate is local.  If you want to invest in real estate in southern California, you need to find someone in southern California that is making money in real estate there.  Do EXACTLY what they are doing.  Don’t try to out think them, don’t reinvent the wheel.  Do exactly what they are doing.  If they use ABC to find their properties then you use ABC to find your properties, if they use negative amortization loans then you use negative amortization loans.  I am in Houston, I have no idea how to make money in southern California but I am sure it is possible.  Just because I don’t know how to do it doesn’t mean it can’t be done.  The same goes for the guys on this site.  Ask them if they have successfully done real estate in southern California.  Don’t take advice from anybody who can’t answer that question yes.   

A general point that I do know about is that you should never do business with anybody that you can’t sue.  Although you never go into a deal thinking that you are going to sue the other party but it may come to that.  That means that your friends and family come off the table.  My rule of thumb is if I go into business with a person and the deal goes sour will it make Christmas, or thanksgiving, or the next pool party, or church next Sunday, or family reunion uncomfortable, then I don’t go into business with them.