Making The First Deal

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Making The First Deal

Jason T.
Anaheim, CA · Member since 2015 · 15 posts · 0 votes

Hi,

I'm new to BP and also a new real estate investor as well, trying to start out with limited resources. I'm from SD, California, so the properties here are really high and hard to make profitable from what I've calculated so far. I want to invest for cash flow and want to know if anyone has any guidance? I was looking at out of state properties as well but I can't travel there that easily.

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Joe VilleneuvePro Member
Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
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@Jason T. You don't need to travel.  All you need is someone in the state you are investing in that takes care of all the "heavy lifting".  You can supply the financial side, they provide all the research, analysis, negotiating, offers, closing, and management after.  We work with a number of investors out of state, and there are many others like us.  We like Michigan, and feel it is the number one state to invest for cash flow...and BP articles agree with us.

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  • Curt DavisBusiness Member
    Flipper/Rehabber · Memphis, TN · Member since 2008 · 5k+ posts · 2k+ votes
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    @Jason T.

    You are facing the dilemma that most CA investors face with high prices and no cash flow. 

    Many will look to out of state investing as an alternative and it can work for you as long as you choose a market you feel comfortable in and work with a company with a good history.  Property management will also me very critical for you. 

    Good luck

    Curt Davis - KAIZEN Realty538 Reviews
    WebsiteView Page
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  • Joe VilleneuvePro Member
    Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
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    @Jason T. You don't need to travel.  All you need is someone in the state you are investing in that takes care of all the "heavy lifting".  You can supply the financial side, they provide all the research, analysis, negotiating, offers, closing, and management after.  We work with a number of investors out of state, and there are many others like us.  We like Michigan, and feel it is the number one state to invest for cash flow...and BP articles agree with us.

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  • Jason T.
    OP
    Anaheim, CA · Member since 2015 · 15 posts · 0 votes
    11y

    Thanks. I'm not sure if I would be comfortable investing out of state right now since I lack the experience, and don't quite know what to look for since I wouldn't know the market and the neighborhood. 

    I was wondering though, do you take into consideration the crime rate of a neighborhood, schools and other statistics into consideration or do you just go with the deal if it is good?

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  • Joe VilleneuvePro Member
    Plymouth, MI · Member since 2013 · 13k+ posts · 19k+ votes
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    @Jason T. Yes.  Crime rate, neighborhood, etc...are all important.

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  • Frank Jiang
    Investor · San Diego, CA · Member since 2014 · 592 posts · 765 votes
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    Hello fellow San Diegan!

    I personally chose to invest out of state, but there are still cashflow deals to be found in inland empire CA if you feel too uncomfortable buying a house you'll never see.

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  • Jason T.
    OP
    Anaheim, CA · Member since 2015 · 15 posts · 0 votes
    11y

    Hello @Frank Jiang 

    Can you give me a run down of how you did your out of state deal and your experience on it? Was it your first deal?

    I don't have a go to list of people to call up for out of state deals, so I guess that's why I'm not confident in doing that, at least at this point in my investing career.

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  • Frank Jiang
    Investor · San Diego, CA · Member since 2014 · 592 posts · 765 votes
    11y

    Sure thing.  Sent you a colleague request.

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