Why Multi-Family Rentals in California Are Very Unconventional
Wealthy Way
Ryan Pineda
4.9 • 2.2K Ratings
🗓️ 15 March 2024
⏱️ 8 minutes
🧾️ Download transcript
Summary
Are you investing in California? Or staying away?
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About Ryan Pineda:
Ryan Pineda has been in the real estate industry since 2010 and has invested in over $100,000,000 of real estate. He has completed over 700 flips and wholesales, and he owns over 650 rental units. As an entrepreneur, he has founded seven different businesses that have generated 7-8 figures of revenue.
Ryan has amassed over 2 million followers on social media and has generated over 1 billion views online. Starting as a minor league baseball player making less than $2,000 a month, Ryan is now worth over $100 million. He shares his experiences in building wealth and believes that anyone can change their life with real estate investing.
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Transcript
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| 0:00.0 | And so you were always in the multi-family. |
| 0:02.2 | That's multi-family is what I was excited about. |
| 0:05.2 | Where are you going to a multi-family at? |
| 0:06.5 | All California. |
| 0:07.6 | All California. |
| 0:08.4 | Okay, so let's talk about this because that's very unconventional. |
| 0:12.2 | Super unconventional. |
| 0:13.2 | Yeah, most people are like, |
| 0:15.0 | stay away from that place. |
| 0:16.8 | For being a landlord, prices, crime, people leaving, why? |
| 0:25.0 | So our outlook is basically all the reasons why you had that reaction to investing in California, a lot of investors have. |
| 0:33.0 | Most people won't go near it. |
| 0:35.0 | And they just assume, okay, well, if no one's going near it, |
| 0:37.4 | then the demand's gonna go down, |
| 0:38.6 | everything's gonna crumble, right? |
| 0:40.5 | But the state still has so much demand. |
| 0:42.8 | Now, we can make an argument about what happened to California. |
| 0:45.8 | I'm with you on that. |
| 0:46.8 | But demand has held and grown over the last 20 years why real estate hasn't. We just don't build. |
| 0:55.0 | Yeah. And so our state is about 2 million units short right now, right? |
| 0:59.0 | And so the bet that we're making is you have 18 people putting offers in in one house. |
| 1:05.4 | You have 15 people putting applications in to rent an apartment and the pace at which our state |
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