New Out of State Investor Looking to Connect
Hi BP!
I have been on BiggerPockets for some time, but am finally ready to take the leap and start really digging into the work of REI! I'm a new investor currently living in San Diego and looking to jump all in to achieve my goals of building a real estate portfolio. As much as I love San Diego, I am looking to buy my first investment property out of state, more specifically in the Augusta, GA market. I am looking to connect with other like minded investors and networking with all of you!
Looking forward to connect and meeting you all!
Hey Alyssa I’m a resident of SD and currently trying to invest in San Antonio if you’d like to connect. I feel like I’m about 3 months into it and close to closing on a home.
Hi Alyssa, glad to have you as a part of this awesome community!
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If you ever want to know more about San Antonio as a potential market, we can schedule a call.
I wish you all the best.
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@Alyssa Raines congrats on starting your RE journey. I have a friend who is an investor savvy agent in the Augusta GA area if you would like me to connect you with him, let me know.
@Alyssa Raines Congratulations on your decision to take the Big Leap forward! Most folks never will...
I'm actively pursuing deals in Augusta as well, specifically mid-term rentals. What types of deals are you seeking?
We're also facilitating private lender funding for rehabs and fix-and-holds. We just closed one last week.
How are you currently sourcing deals?
Hey Alyssa, I’d love to connect! If you’re ever looking in Texas don’t hesitate to reach out!
Quote from @Brady Ferguson:
Hey Alyssa, I’d love to connect! If you’re ever looking in Texas don’t hesitate to reach out!
Hello good day sir,
My name is ceejay I watched your preview sir about the real estate, you are really a genius sir all you works are great to be honest. I'm a new real estate here, it will be a honour for me if I can get your guidance. Thank you very much sir
Quote from @Alyssa Raines:Hello good day miss
Hi BP!
I have been on BiggerPockets for some time, but am finally ready to take the leap and start really digging into the work of REI! I'm a new investor currently living in San Diego and looking to jump all in to achieve my goals of building a real estate portfolio. As much as I love San Diego, I am looking to buy my first investment property out of state, more specifically in the Augusta, GA market. I am looking to connect with other like minded investors and networking with all of you!
Looking forward to connect and meeting you all!
My name is ceejay I watched your preview ma' about the real estate, you are really a genius ma' all you works are great to be honest. I'm a new real estate here, it will be a honour for me if I can get your guidance. Thank you very much ma' for bringing out time in reading this
Quote from @Steve Meyers:
@Alyssa Raines congrats on starting your RE journey. I have a friend who is an investor savvy agent in the Augusta GA area if you would like me to connect you with him, let me know.
Hi Steve! That would be great if you could connect me with your friend! I see you are also from SD. Do you invest out of state as well?
Quote from @Mitch Messer:
@Alyssa Raines Congratulations on your decision to take the Big Leap forward! Most folks never will...
I'm actively pursuing deals in Augusta as well, specifically mid-term rentals. What types of deals are you seeking?
We're also facilitating private lender funding for rehabs and fix-and-holds. We just closed one last week.
How are you currently sourcing deals?
Hi Mitch,
I am looking for long term and mid term rentals, which is why I like the Augusta market. Since I am just starting out, I am hoping to connect with some wholesalers and realtors in the Augusta areas to hopefully find a my first deal.
Yeah, buying properties in California is just not going to work because the rent-to-value ratios are too poor here. When I started out in 2012, I bought turnkey rentals in Atlanta, Birmingham, and Indianapolis, but things have changed a lot since then. Now, you're probably looking at tertiary markets like Augusta, Georgia, or even areas like Detroit or Baltimore if you're on a tighter budget. Yikes!!!
If you don't have much money, like less than $30-50,000 for a down payment, and you're looking for cash flow, unfortunately, buying in these lower-priced markets might be a good option - but the best one if that makes sense. It is what it is. However, if you're an accredited investor earning a couple hundred thousand dollars or more, syndications and private placements might make more sense for you. But hey, I've been in your shoes. I don't know your net worth or income, but that's what I did for several years—buying small rental properties. It's not a get rich quick scheme, but it can get you closer to being an accredited investor.
Oh, by the way, I didn't get much information from your question, but if you're considering a market like Augusta, just be cautious. It doesn't have a robust economy like some other turnkey markets with more employer diversification.
You mentioned wholesalers. Yeah, that's an option if you want to buy, rent, and rehab properties. It can be good if you have a lower net worth and time on your hands. Just be aware that it can be risky, especially if you're an out-of-state investor and need to rely on others remotely. People talk about it a lot on these forums, but be very careful with that approach. Unfortunately, for newer investors with limited cash, it's sometimes the only option.
Quote from @Lane Kawaoka:
Yeah, buying properties in California is just not going to work because the rent-to-value ratios are too poor here. When I started out in 2012, I bought turnkey rentals in Atlanta, Birmingham, and Indianapolis, but things have changed a lot since then. Now, you're probably looking at tertiary markets like Augusta, Georgia, or even areas like Detroit or Baltimore if you're on a tighter budget. Yikes!!!
If you don't have much money, like less than $30-50,000 for a down payment, and you're looking for cash flow, unfortunately, buying in these lower-priced markets might be a good option - but the best one if that makes sense. It is what it is. However, if you're an accredited investor earning a couple hundred thousand dollars or more, syndications and private placements might make more sense for you. But hey, I've been in your shoes. I don't know your net worth or income, but that's what I did for several years—buying small rental properties. It's not a get rich quick scheme, but it can get you closer to being an accredited investor.
Oh, by the way, I didn't get much information from your question, but if you're considering a market like Augusta, just be cautious. It doesn't have a robust economy like some other turnkey markets with more employer diversification.
You mentioned wholesalers. Yeah, that's an option if you want to buy, rent, and rehab properties. It can be good if you have a lower net worth and time on your hands. Just be aware that it can be risky, especially if you're an out-of-state investor and need to rely on others remotely. People talk about it a lot on these forums, but be very careful with that approach. Unfortunately, for newer investors with limited cash, it's sometimes the only option.
Thanks for the insights Lane! I'm not looking for a get rich quick scheme. I am looking for a SFH or small multi-family that need some minor repairs and then rent them out I understand this won't have a crazy amount of cash flow, but I am looking for long term investments. There are other cities I might be willing to consider, but at this time, I just want to focus on one, but no more than two areas as I am just starting out and want to start building relationships.
Quote from @Alyssa Raines:
Hi BP!
I have been on BiggerPockets for some time, but am finally ready to take the leap and start really digging into the work of REI! I'm a new investor currently living in San Diego and looking to jump all in to achieve my goals of building a real estate portfolio. As much as I love San Diego, I am looking to buy my first investment property out of state, more specifically in the Augusta, GA market. I am looking to connect with other like minded investors and networking with all of you!
Looking forward to connect and meeting you all!
Hey Alyssa! I'm in the Augusta market. I started out in this market and actively adding to my local portfolio. Let me know how I can assist you!
Hey Alyssa! I would love to connect.
@Alyssa Raines - Welcome to Bigger Pockets!! Congratulations on making the decision to get into REI. Happy to connect!
Yeah, I totally get what you're saying about long-term investments. When I was buying rental properties, I initially thought I'd hold onto them for decades. But the reality is, as you become a more sophisticated investor, you realize that you tend to enter and exit these investments relatively quickly (3-10 years). It's like the lifespan of these properties is accelerated, kind of like dog years. The main problem with single-family homes is that they age rapidly, and if you own them for more than five or ten years, you'll start encountering major capital expenditure issues that hit you like a tidal wave. So the key is to sell before those big problems come crashing down on you.
Thank you for your advice! Let connect and we can talk about your experience.
Alyssa: I would be glad to connect with you and tell you about the Georgia market. I live in Atlanta. Please follow me and we can set up a call at some point. Thanks.
Lane made a great point about Augusta possibly not having the best economy (except during the Masters of course). I have been in GA virtually my whole life and know the dynamics of the GA market, because I have flipped in this state and owned 2 houses. I have been attending REI meetings for 13 years now in GA and I listen to other investors when they talk about some of the smaller markets that are hot. If you set up a call with me, I would be glad to talk with you about some of the smaller towns that do have good economy. Thanks.
@Alyssa Raines- welcome on taking such a big step! I absolutely love the Georgia market but I focus a little southeast of August in the Golden Isles (Brunswick, St. Simons and Jekyll Island). I personally love this market because it's a vacation destination, has a large Federal Law Enforcement Training Center that brings in lots of renters and also is growing fast due to the number of people relocating here from the NE and West coast. Our healthcare system is exploding due to the number of retirees which has caused our midterm rentals to boom. If you decide you want to consider a market other than August, I'd love to help. I personally invest in mid-term rentals and long-term rentals here, but I work with some investors that like the vacation rentals as well.
Good luck and keep us all posted!
Quote from @Mitch Messer:Hi Mitch,
@Alyssa Raines Congratulations on your decision to take the Big Leap forward! Most folks never will...
I'm actively pursuing deals in Augusta as well, specifically mid-term rentals. What types of deals are you seeking?
We're also facilitating private lender funding for rehabs and fix-and-holds. We just closed one last week.
How are you currently sourcing deals?
We’re too looking to invest in Augusta in the MTR space. Have you closed on any deals yet? What size homes are you looking for, for that demographic? It seems like the medical community can use MTRS but look for smaller 1-2BD homes but of course military families and masters season do better with larger homes. That’s our dilemma currently. Which size home to go with?
