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!)