Getting ready to start investing in RE

8 Replies

Hey guys,

For the past few months I have studied a lot about RE and the more I research the more I lean towards investing outside of California. I've been considering buying a multiunit (2 to 4 units) as a rental investment somewhere where cash flows properties are easier to find. Currently looking in Kansas, Indiana and Ohio, but still haven't discard the idea of finding something close to Los Angeles. I have about 65k in cash to invest out of state and if decide to invest in LA I have a partner willing to join the venture with an equal investment.

Do you guys have any suggestions on other cities to invest in rental properties around my budget?

Experiences starting investing small remotely?

Experiences investing in upcoming areas in LA?

Any recommendations will be greatly appreciated!

  

Hi @Ariel Gomes Welcome to BP. I think you're on the right track looking at Indiana, Kansas City and Ohio. Those are all good cash flow markets. CA on the other hand is not as I'm sure you know. I'm a big fan of Indianapolis and Kansas City. Not only do they offer good cash flow and ROI, they both have strong, diverse economies. The WSJ named Indy the bio tech hub of the nation and Kansas City as the information technology hub. We've been offering turn key properties in these markets for almost 5 years and have found them to perform very well but as in any market, you really have to no the good areas.

Feel free to reach out if you'd like more info.

Few more details I forgot to add:

  • This would be my first property.
  • My partner would be happy to live in the property if we decide to buy in LA so we could take advantage of an FHA loan.

Thanks for the prompt response Mike, I'll check out some of your properties.

@Ariel Gomes  There are multiple cities in the Midwest where investing for cashflow makes sense. I'm fond of Dayton, coincidentally where I currently live and invest. When I first started on the real estate path 13 years ago, I lived in California. 

The one thing I learned that has stuck with me, is the Landlord-tenant laws favor the tenant.

If you're going to invest remotely, your first purchase should be plane ticket. Visit the areas, interview property managers and other team members in person. It makes a world of difference on your perspective.

Originally posted by @Ariel Gomes :

Hey guys,

For the past few months I have studied a lot about RE and the more I research the more I lean towards investing outside of California. I've been considering buying a multiunit (2 to 4 units) as a rental investment somewhere where cash flows properties are easier to find. Currently looking in Kansas, Indiana and Ohio, but still haven't discard the idea of finding something close to Los Angeles. I have about 65k in cash to invest out of state and if decide to invest in LA I have a partner willing to join the venture with an equal investment.

Do you guys have any suggestions on other cities to invest in rental properties around my budget?

Experiences starting investing small remotely?

Experiences investing in upcoming areas in LA?

Any recommendations will be greatly appreciated!

  

 Hi Ariel,

Please check out a few links to blogs I wrote for Bigger Pockets.

You might find them useful for your Real Estate endeavors

http://www.biggerpockets.com/renewsblog/2014/07/26/sight-mind-real-estate-investing-afar/

http://www.biggerpockets.com/renewsblog/2014/06/28/abcs-real-estate-asset-classes/

Thanks and have a great day.

Thanks a lot for the tips guys, greatly appreciated!

@Ariel Gomes  

Welcome to BP!

I highly recommend visiting this page if you haven’t already:

http://www.biggerpockets.com/starthere

I have a client who will be short-selling her 4 plex in MO.  PM me if you're interested in the details.  

Good luck networking!

@Ariel Gomes  

Hello, I am from the Dayton area, my husband and I live here in Beavercreek which is part of the Dayton area.  We are retired from the AFB Wright Pat and now investing in the area.  Please go to my profile, and if you are interested in this area, please message me and we can chat on the Dayton market.  I look forward to hearing from you!!!  I'm originally from the San Diego area myself.

Thanks Sondra

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