Updated 10 months ago on . Most recent reply
How to Start Out in Real Estate Investing in a High Cost of Living Area
Looking to get into Real Estate. I've been reading a few books on Bigger Pockets. Looking at possibly picking up "Small and Mighty Real Estate Investor" and " Wealth Without Cash". However, it seems my local area (San Jose / Bay Area) might not be the best as I know most of the win is in the buy. However, there is still so much I don't know.
Wife won't let us house hack (we have a house, and a daughter). We have some REITs.
Looking for guidance, networking and a path forward. Thanks!
Most Popular Reply
#3 Out of State Investing Contributor
- Flipper/Rehabber
- Pittsburgh
- 4,806
- Votes |
- 5,657
- Posts
#3 Out of State Investing Contributor
- Flipper/Rehabber
- Pittsburgh
hello. i know this is not exactly the answer you want to hear, but it's just a really tough time to get started. that doesn't mean RE isn't a good investment... but it is the case.
what i would NOT recommend is buying a random, "cheap' property in a market thousands of miles away that you don't know well and haven't seen in person, and turning it over to a team you don't know. this will just set you back.
i don't know what time you have available to dedicate to RE - if you are able, you could try to build a team and explore a market within a couple hours of you with a lower price point. if not, you might be restricted to more passive options. or waiting and saving.