{"id":58502,"date":"2014-06-05T00:05:24","date_gmt":"2014-06-05T06:05:24","guid":{"rendered":"https:\/\/www.biggerpockets.com\/renewsblog\/?p=58502"},"modified":"2023-04-11T05:05:31","modified_gmt":"2023-04-11T11:05:31","slug":"2014-06-05-investing-rental-properties-too-expensive","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/2014-06-05-investing-rental-properties-too-expensive","title":{"rendered":"Investing in Rental Properties When Your Local Area is Too Expensive With Mehran Kamari"},"content":{"rendered":"<p>Today on the\u00a0<a href=\"https:\/\/www.biggerpockets.com\/podcast\" target=\"_blank\">BiggerPockets Podcast<\/a>\u00a0we are\u00a0excited to welcome back\u00a0a repeat guest coming to us\u00a0from The Los Angeles area!<\/p>\n<p>We first met <strong>Mehran <span style=\"color: #222222;\">Kamari\u00a0<\/span><\/strong>\u00a0in the newbie podcast back on show 025, where he took us through the process of his first out-of-state deal, and&#8230; well, a lot has happened since then!<\/p>\n<p>Since his last appearance, Mehran&#8217;s business has blown up &#8211; just completing the purchase of his 10th property!<\/p>\n<p>In today&#8217;s show, Mehran teaches us how to successfully invest out-of-state when your local market is too expensive. He goes into detail on how to use BiggerPockets to find out-of-state partners, what due diligence you need to do, who you need\u00a0on your team, how to overcome fear and much, much more!<\/p>\n<p>If you are in a market where the numbers just don&#8217;t seem to work, then this Podcast is for you!<\/p>\n<h2>Sponsor<\/h2>\n<p><a href=\"http:\/\/learn.pensco.com\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-58517\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2014\/06\/Screen-Shot-2014-06-04-at-6.20.56-PM.png\" alt=\"Screen Shot 2014-06-04 at 6.20.56 PM\" width=\"150\" height=\"44\" title=\"\"><\/a>Special thanks to today&#8217;s sponsors Pensco. Be sure to check them out at:\u00a0<a href=\"https:\/\/learn.pensco.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Learn.Pensco.Com<\/a><\/p>\n<h2>Read the Transcript<\/h2>\n<p><a href=\"https:\/\/www.biggerpockets.com\/bpp73-mehran-kamari-podcast-transcript-investing-in-rental-property-locally\" target=\"_blank\">Click here<\/a> to read the transcript.<\/p>\n<h2>Listen to The Show on iTunes<\/h2>\n<p><a href=\"https:\/\/itunes.apple.com\/us\/podcast\/biggerpockets-podcast-real\/id594419649\" target=\"_blank\" rel=\"noopener noreferrer\">Click here<\/a>\u00a0to listen on iTunes.<\/p>\n<h2>Listen to the Podcast Here<\/h2>\n<p><iframe loading=\"lazy\" src=\"https:\/\/playlist.megaphone.fm\/?e=BIGPOC1752923863\" width=\"100%\" height=\"200\" frameborder=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<h2>In This Show, We Cover:<\/h2>\n<h2><a href=\"https:\/\/www.biggerpockets.com\/podcast\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-thumbnail wp-image-42908\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2013\/05\/BiggerPockets-Podcast-_-Real-Estate-Investing-and-Wealth-Building-9.42.11-AM-150x150.jpg\" alt=\"BiggerPockets Podcast _ Real Estate Investing and Wealth Building 9.42.11 AM\" width=\"150\" height=\"150\" title=\"\"><\/a><\/h2>\n<ul>\n<li>How to use real estate to<strong> quit your job,<\/strong> the smart way!<\/li>\n<li>How Mehran invests\u00a0in real estate <strong>from 2000 miles away<\/strong><\/li>\n<li>How to use<strong> BiggerPockets<\/strong> to invest <strong>in markets you are unfamiliar with\u00a0<\/strong><\/li>\n<li>Using tools such as<strong> Google Maps<\/strong> and <strong>Google Docs\u00a0<\/strong>for real estate<\/li>\n<li><strong>Joshua\u00a0Dorkin<\/strong>\u00a0used to be an <strong>actor!<\/strong><\/li>\n<li>The importance of <strong>mindset<\/strong> and <strong>integrity<\/strong><\/li>\n<li><strong>Leverage<\/strong> is a tool!<\/li>\n<li>Making sure you <strong>vet out-of-state property management companies<\/strong> the right way!<\/li>\n<li>What&#8217;s involved in <strong>out-of-state due diligence<\/strong><\/li>\n<li>and much, much more!<\/li>\n<\/ul>\n<h2>Links Mentioned<\/h2>\n<ul>\n<li><a href=\"\/renewsblog\/2013\/08\/01\/bp-podcast-029-peer-to-peer-fix-hold-dawn\/\" target=\"_blank\" rel=\"noopener noreferrer\">BP Podcast 029: Using Peer-to-Peer Lending to Finance Deals, Cash Flow, and Fix and Hold Investing with Dawn Anastasi<\/a><\/li>\n<li><a href=\"\/renewsblog\/wp-admin\/post.php?post=55578&amp;action=edit\" target=\"_blank\" rel=\"noopener noreferrer\">BP Podcast 063: Automating Your Investing, Long Distance Rehabs and Spec Building with J Scott<\/a><\/li>\n<li><a href=\"https:\/\/www.hipchat.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">HipChat.com<\/a><\/li>\n<li><a href=\"http:\/\/beta.biggerpockets.com\/files\/user\/brandonatbp\/file\/real-estate-rewind-a-biggerpockets-community-book\" target=\"_blank\" rel=\"noopener noreferrer\">Real Estate Rewind [A BiggerPockets Community Book]<\/a><\/li>\n<li><a href=\"http:\/\/www.businessinsider.com\/detroit-home-photos-2014-5\" target=\"_blank\" rel=\"noopener noreferrer\">Google Map View of Detroit back in 2008<\/a><\/li>\n<\/ul>\n<h2>Books Mentioned in the Show<\/h2>\n<ul>\n<li><a href=\"http:\/\/amzn.to\/2ageKHV\" target=\"_blank\" rel=\"noopener noreferrer\">How I Turned $1,000 into a Million in Real Estate in My Spare Time <\/a>by\u00a0William Nickerson<\/li>\n<li><a href=\"http:\/\/amzn.to\/2akXAtA\" target=\"_blank\" rel=\"noopener noreferrer\">Success Mastery Academy<\/a>\u00a0by Brain Tracey<\/li>\n<\/ul>\n<h2>Tweetable Topics<\/h2>\n<p>&#8220;To be honest I wouldn&#8217;t invest out of state unless I had a partner with boots on the ground.&#8221; (<a href=\"https:\/\/twitter.com\/home?status=%22To%20be%20honest%20I%20wouldn&#039;t%20invest%20out%20of%20state%20unless%20I%20had%20a%20partner%20with%20boots%20on%20the%20ground.%22%20http:\/\/bit.ly\/1ocH1i4%20%20@BiggerPockets%20\" target=\"_blank\" rel=\"noopener noreferrer\">Tweet This!<\/a>)<\/p>\n<p>&#8220;You are the average of the 5 people that you spent the most time with.&#8221; (<a href=\"https:\/\/twitter.com\/home?status=%22You%20are%20the%20average%20of%20the%205%20people%20that%20you%20spent%20the%20most%20time%20with.%22%20%20@BiggerPockets%20Podcast%2073%20http:\/\/bit.ly\/1ocH1i4%20\" target=\"_blank\" rel=\"noopener noreferrer\">Tweet This!<\/a>)<\/p>\n<h2>Connect with\u00a0Mehran<\/h2>\n<ul>\n<li>Mehran&#8217;s\u00a0<a href=\"https:\/\/www.biggerpockets.com\/users\/MehranK\" target=\"_blank\" rel=\"noopener noreferrer\">BiggerPockets Profile<\/a><\/li>\n<\/ul>\n<p><iframe loading=\"lazy\" title=\"Charlie Meeting a Wolf\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/_qUoGzMLlak?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Today on the\u00a0BiggerPockets Podcast\u00a0we are\u00a0excited to welcome back\u00a0a repeat guest coming to us\u00a0from The Los Angeles area! We first met Mehran Kamari\u00a0\u00a0in the newbie podcast back on show 025, where [&hellip;]<\/p>\n","protected":false},"author":17340,"featured_media":119595,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4565],"tags":[],"class_list":["post-58502","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-biggerpockets-podcast"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/58502","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/17340"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=58502"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/58502\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/119595"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=58502"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=58502"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=58502"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}