Out of state investing in cash flow sfr's

[Jay Hinrichs]

I have never listened to a pod cast before.. but I thought I would try one on BP and listened to one last week about a nice young man who is buying out of state and was all excited about it.

The really important factor when listening to that pod cast was HOW he was investing out of state.. It was obvious he was investing in low end rentals.

However he was doing it with a partner who is an expert in the market ( or he hopes they are) and they are investing side by side.. With him being in CA and bringing in Capital and this person being local finding the deals (and according to the pod cast the local was ALSO contributing cash to each deal) then they were splitting cash flow at what ever deal they put together.

From my point of view many newbies or CA investors should really listen to that one and keep that scheme in mind if they are bound and determined to go out of state and go for low end C type units. In my mind its the ONLY way are not only but pretty close to only way that you will be successful over the long term of the investment. To have a local partner with true SKIN in the game and when they drive up to the property they own it and they are at risk financially as well.. That is a true alignment of goals as opposed to trying to do it all on your own and trust for profit folks putting you in the deals.

Nice Pod cast from a NEWBIE podcast listener.. Probably be my first and last.. But it was a good one to share with others.

Caveat   Don't run out and go into business with anyone with out fully checking them out.. IE credit check Criminal background check references visit them in Situ etc etc.