@Christopher Chen welcome to BP. ots of people here are ready to help you on your way. Good luck.

Hey @Christopher Chen !

Welcome to this amazing community! Your approach to learning about real estate investing seems to be going in a positive direction. Keep up the excitement and surround yourself among those who will keep pushing you towards being the best. 

All the best on your success!
 

Originally posted by @Christopher Chen :

@Lane Kawaoka  totally agree! The only reason I'm purchasing here is to lower my expenses. I realize I've spent 60k on rent in the past 2 years. Once I've reduced my expenses I plan on investing in Memphis.

Great advice. Are you primarily a cash flow investor? That's what I'm choosing to focus on now.

Totally agree? What a bunch of manure IMO. 

Everything in life has a price. Something is a expensive for a reason so is something cheap. The nose bleeding high barrier of entry in our market is to keep the losers out, or shall I say to send people OOS. You know there’s a saying “OOS investing is where CA investors go to lose money” right?

Real estate investing in the Bay Area is a competitive sport, which is reserved for the real “sophisticated investors.” With low to no barrier of entry for a bunch of cheap rentals OOS, why the hell would those people rent from you when it’s cheaper for them to buy with a mere 3% down? If they couldn’t come up with 3% to buy a house for themselves, what kind of tenant profile are you dealing with? 

Save yourself the potential headache and heartache and scratch the OOS investing idea out of your mind for now. Spend sometime and learn our real estate market first. Once you figure it out, I guarantee you won’t be looking at the cheap rentals OOS.

Let me leave you with this “If you’re willing to do only what’s easy, your life will be hard. But if you are willing to do what’s hard, your life will be easy.” Investing in the Bay Area is hard where the barrier of entry is so god damn high. Investing OOS is easy where there’s no barrier of entry. 🤔

Best of luck. 

@Christopher Chen hey Chris! I’m pretty new to BP as well. All the way down here in Texas, and eventually looking to invest myself. Best of luck to you!

@Christopher Chen welcome to the community ! I’m a newbie too from Concord, about a month ahead of you. There’s so much info here and super helpful investors.

I'd include BRRRR book by D. Greene as well . GL and lemme know if you have any question .

@Christopher Chen

Hello Chris,

I’m new to BP and RE investing myself. I’m currently reading the Beginners Guide To Real Estate Investing by Brandon. The people here are very helpful and informative, nothing but great advice I have received so far. I wish you the very best on your journey!!

Best of luck Chris!

@Ola Dantis

Rich Dad poor dad is great!

@Minh Le

Thanks for sharing your view. It's a bit extreme and your delivery is not easy to receive but I totally can see your view point.

@Tyrone Hood

Thank you will check out that book too!

@Armel Bayot

Thanks man! Will add that to the list too :)

Nice Meeting you @Christopher Chen , Welcome! Wish you tons of Success and fruitfull relationship through this platform!!! 

@George Munoz

Thank you george! You as well :)

Welcome to BP, enjoy the learning and the journey

@Christopher Chen

As someone who has been investing out of state for over a decade, I can tell you that it is a great time to go into this type of investing.  Certain markets are definitely priced out (my home town area being one of them) and you need to go where the markets make A LOT more sense in terms of cash flow.  I highly recommend speaking to those who have successfully done OOS investing.  With proper systems and teams in place, you can create a successful business model.  

@Steve Kontos

Yea my friend is doing well he's cash flowing out of 4 properties with barely any real money down. He's the one that inspired me and got me excited about this being possible! Appreciate the encouragement :)

Hi Chris,

Welcome to BP, lots of good people and good info here.  My personal favorite piece of advice I got from BP was, have plenty of reserves, cash reserves, you can never have enough reserves.  

@Christopher Chen hello Christopher welcome to BP my name is jose also a new investor and here you find everything you need to know about real estate investing business ,Welcome!

@Clay Gradis

Thanks for the advice! I'll try not to stretch myself too thin :)

@Ned Carey  

Thanks :)

Hey Chris! I'm pretty new here and to REI myself. Currently just trying learn as much as I can with a goal to invest in my first property within a year. Looking at the BRRRR strategy currently and just read David Greene's latest book on that. Sounds like you might want to check out some of the blog posts on "house hacking," as that seems to be the direction you're looking to go. I think a new book is about to be released on that too (I think by Brandon Turner?)

@Robert Schmitt

Yes house hacking is the business!

Originally posted by @Christopher Chen :

@Lane Kawaoka  totally agree! The only reason I'm purchasing here is to lower my expenses. I realize I've spent 60k on rent in the past 2 years. Once I've reduced my expenses I plan on investing in Memphis.

Great advice. Are you primarily a cash flow investor? That's what I'm choosing to focus on now.

Welcome! I'm also a newbie to BP and to real estate investing as well. I'm curious: why Memphis?

@Account Closed

The biggest reason is it is still affordable! My friend has been able to get properties in all cash for around 70k. I looked on different websites and it looks like the market in memphis doing pretty well. 

Hi Welcome to BP Chris! Please let me know if you need anything.  

@Christopher Petrillo Thanks so much! :)