Starting out- Looking Out of State

[Steven Schuster]

Hello,

I'm a newbie, looking to get started with my first deal. I have a W-2 income, and some savings for a downpayment. However, I live in SoCal, so properties are very expensive. I want to get started with a BRRRR, but don't think I'll be able to afford it in my area. I'm considering looking in the Central Illinois area, as that's where I'm from and still have some connections there. Does anyone have general advice for out of state investing? Would BRRRR be a prudent strategy for a first timer? How can I find a wholesaler in a specific area? Thanks in advance for any help!

[Adrian Lammersdorf-Scioll]

I know a few people personally that have had some great success in Ohio in cities like Cleveland. I've also heard of good success in Indiana, but don't know anyone that is currently investing there. The midwest is probably going to be your best bet. If not that then house hack is always a great option. You'd be suprised how little down you can put on a primary duplex, and then you can even make the other side an Air Bnb and slash your cost of living by a bunch. I know that Cali is starting to do ADU's on single family homes. Definitely look into that. Your start up costs would probably be about same or less.