BiggerPockets Podcast 211: Investing in Out-of-State Rentals and Notes with Bob Malecki
What’s the best way to invest in real estate when the numbers don’t make sense in your backyard? Today on the BiggerPockets Podcast, we sit down with Bob Malecki, a real estate investor who started by purchasing local rental properties but quickly shifted gears into two other niches: out of state rentals and mortgage notes. In this episode, Bob explains why he chose to make the switch and walks listeners through the step-by-step process for getting started investing outside your backyard!
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This Show Sponsored By
We just wanted to give a shout out to our podcast sponsor on today’s show: RealtyShares. RealtyShares is a crowdfunding platform that allows you to invest in professionally managed properties without leaving your living room!
Learn more by visiting RealtyShares.com/biggerpockets!
Fire Round Sponsor
We just wanted to give a shout out to our podcast sponsor on today’s show: Patch of Land. Patch of Land is a Peer-to-Real-Estate (“P2RE”) lending marketplace that matches accredited and institutional investors seeking high-yield, short-term, asset-collateralized investments to borrowers seeking more timely and consistent sources of funding for rehabbing properties across America.
Learn more by visiting Patch of Land!
In This Episode We Cover:
- How Bob got started in real estate
- What a ROTH IRA is
- What to do when you’ve got a chunk of money to invest
- How to choose the right turnkey company
- Thoughts on using leverage to acquire properties
- Why he decided to transition to notes
- What exactly non-performing notes are
- A discussion on notes vs. rentals
- The risks of investing in notes
- What you should know about due diligence
- Where to find notes to invest in
- The value of building relationships
- What the future looks like for Bob
- And SO much more!
Links from the Show
- BiggerPockets Forums
- Sunwest Trust Inc.
- Notes funds for individual investors. What are the best players? (Forum Post)
- Tax, Legal Issues, Contracts, Self-Directed IRA (Forum Category)
Books Mentioned in this Show
- Rich Dad Poor Dad by Robert T. Kiyosaki
- Equity Happens by by Robert Helms & Russell Gray
- The Magic of Thinking Big by David J. Schwartz
- Secrets of the Millionaire Mind by T. Harv Eker
- “Nothing in the world is guaranteed.” (Tweet This!)
- “Assume nothing and document everything.” (Tweet This!)
- “If you don’t take actions, you can’t take a risk and you won’t make mistakes. Mistakes are necessary.” (Tweet This!)
Connect with Bob