Tell me about your real estate journey

[Melany Longoria]

Hey guys, so my husband and I are interested in investing out of state soon. We live in the Bay Area and as a young couple, homes here are way out of our budget. We’ve done some research but I wanted to hear some real life experiences.

How did you get started? How’d you choose your strategy? Do you own turn keys or do you flip? If your home is in California, how much investing have you done to purchase in an expensive market? Really anything would be great to hear about.

Thanks in advance!

[Brian Hosier]

Hi @Melany Longoria, and OOS investing can be a great way to get in the RE market when you live in an expensive market such as most of CA. I lived outside of Sacramento in my past which was affordable compared to Silicon Valley!

I have a few OOS rentals with a Canadian company that is expanding into Cleveland, if that's a market you're considering. Their properties are typically $100k with a $25k down payment but you need to qualify for the 1st mortgage. They provide a 15% cash-on-cash return with guaranteed rentals and property management. It works for us because we like to cruise (when this COVID thing is over) and it's true passive investing. 

If you want more info, just message me and we can talk via zoom. Good luck on your RE investing.