Starting out in real estate

37 Replies

Hi Everyone!

My name is Stacy. I am new to BiggerPockets. My husband and I are interested and starting to learn about real estate investment. We would like to purchase a single family home out of CA as it it too expensive here. We have two beautiful kids, Jordan and Hanna. Our income is not sufficient for us to take care of our family so we would like to get into real estate to help us build wealth for retirement and college funds for our kids. We have been listening to BiggerPockets podcasts and would appreciate any mentor or advises we could get from this group. Our family truly appreciate it. Thank you! 

Stacy, Welcome to BP! One thing you guys should pursue is a duplex-quadplex investing as this will give far greater Return on investment. With single family you have one unit supporting one mortgage, With a quadplex that's 4 units supporting the paydown of one mortgage. Not only will this put more money in your pocket, but depending on your goals, you can paydown the debt far faster with this method. Indianapolis & Philadelphia have properties ripe for the picking right now for rentals, and appreciation in those areas may be substantial in the near future.

Good luck


Hi @Stacy La Pineda and welcome to BP!  A lot of us west coast investors invest out of state, as I have since 2012.  When you go out of your area, you have to be particularly keen to choose an on the ground team that you can rely on to look after your interests.  Nothing is more important than the property management for the long term success of your rental.

Larry Fried, Real Estate Agent in OR (#201211636)

Hi Stacy,

Also new here just reading through all the different intro forums here as well. Welcome to BP!

If i may jump in here really quick to ask, @Larry Fried , how did you find your ground team? I too would like to do some out of state investing since I'm a little fish living in Brooklyn. I feel like so much of it gets chalked up to luck...

@Stacy La Pineda I live in San Ramon and I haven't invested in California. I have properties in Birmingham, Atlanta and DFW. Make sure to research your market and build your own team in the market.
Feel free to ping me and I will try to help you any way I can.

@Stacy La Pineda If I was just starting and knew what I know now I would stick solely to the Bay Area. The SF Bay Area is probably the hottest market in the world right now. That makes it that much tougher to get deals but when they’re had they’re good as gold. You may not be able to find your best buy and hold here right out the gate but if you take on a few different angles in real estate, maybe wholesaling and flipping, you will build the bank account and then most likely come across an off market multi family and have your buy and hold. There is nothing better than being able to drive to your property if need be. Pm me and I wouldn’t mind chatting more.

I am not sure how they structured it for their kids but I've sold properties to people from California using a self-directed IRA for their children. The last one I sold like this the child was 14 if memory serves me correctly. I'm sure there are other ways to do it but it seems as though it's a normal thing for parents on the west coast. Properties are cheaper in Birmingham and cash flow a little higher than other markets due to low property taxes, cost of living, and cost to repair/maintain. I will be glad to help if the the Birmingham market is of interest to you.

Originally posted by @Moosa Shahadat :

Hi Stacy,

Also new here just reading through all the different intro forums here as well. Welcome to BP!

If i may jump in here really quick to ask, @Larry Fried, how did you find your ground team? I too would like to do some out of state investing since I'm a little fish living in Brooklyn. I feel like so much of it gets chalked up to luck...

 The simple answer is that I worked with turnkey companies to start, and then it became a matter of expanding from there.

Larry Fried, Real Estate Agent in OR (#201211636)

@Stacy La Pineda I've been investing out of state since 2007. Best place to start building a team in my opinion is with property managers. Also start building relationships with investors in the city you're investing in via BP. Ask them for managers, agents, neighborhoods to get the ball rolling. Hit me up if you have any specific questions. Happy to help. 

310-266-8438
Originally posted by @Alpesh Parmar :

Stacy La Pineda I live in San Ramon and I haven't invested in California. I have properties in Birmingham, Atlanta and DFW. Make sure to research your market and build your own team in the market.
Feel free to ping me and I will try to help you any way I can.

 Did you fly out to those areas and scout the properties out? And if so what was the decision that made you choose those locations?

@Marvin Ong When starting out, I relied on turnkey providers but once I became savvy enough, I flew out to these locations and built my team. Now, I prefer to do it myself. After my research, I saw Atlanta and DFW as some of the markets I was interested in. Again, I like other markets like Raleigh, Austin, Salt Lake city, Vegas but when the numbers don't make sense; I don't want to waste my time. Feel free to PM me if you need any help.

@Stacy La Pineda Welcome to the group! If you're looking to invest out of state from CA, you may want to connect with @Ali Boone . She's a fellow Californian and has invested out of state buying turn-key rental properties. Also, she's written extensively on the subject for the BP blog. Hope that helps! 

Your on the right track! Keep it up and I'm sure you'll continue into success.

-Steve J.

Originally posted by @Stacy La Pineda :

Hi Everyone!

My name is Stacy. I am new to BiggerPockets. My husband and I are interested and starting to learn about real estate investment. We would like to purchase a single family home out of CA as it it too expensive here. We have two beautiful kids, Jordan and Hanna. Our income is not sufficient for us to take care of our family so we would like to get into real estate to help us build wealth for retirement and college funds for our kids. We have been listening to BiggerPockets podcasts and would appreciate any mentor or advises we could get from this group. Our family truly appreciate it. Thank you! 

 Hello and welcome! Best of luck to you!

Tom Ott, Real Estate Agent in OH (#2016003865)
440-749-4043

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