New Investor from CA! Out-of-State Investor Looking to Build a Portfolio of Rentals

[So Jin Kim]

Hi everyone!

My husband and I are new to real estate investing and currently looking for our first rental investment property in a strong cash-flowing market. We're exploring opportunities in cities like Detroit, Birmingham, St. Louis and Indianapolis.

We're both in our mid-30s and have followed a more traditional, academic path in life. Originally from Korea, we came to the U.S. when we were teens, attended university and grad school here, and have built stable careers in corporate America. We're deeply grateful for the sacrifices our parents made to give us this chance.

Now, with our first baby on the way and realizing how much time we spend working and how little we spend with family, we're feeling the pull towards financial freedom. Our goal is to build a portfolio of rental properties that will become a source of passive income in the long run, giving us more flexibility and time together as a family. 

While we are new to this, we are committed, ready to move forward and eager to learn from those with experience. We would love to connect with experienced agents, PMs, and fellow investors who share our long-term mindset, and build lasting relationships as we grow :) 

[Steve Lehman]

Quote from @Melissa Justice:

@So Jin Kim

Hi and welcome! Congratulations on both your first steps into real estate and your growing family! What a beautiful time to be laying the foundation for a more intentional future.

Your story really resonates. So many of us come from traditional paths - school, career, structure - only to realize that time freedom and flexibility are just as important as financial security. The fact that you're recognizing this now, before the baby arrives, and taking action toward it is such a smart and empowering move.

The markets you're considering - Detroit, Birmingham, St. Louis, and Indianapolis - are all solid, cash-flowing cities with proven investor success. Each has slightly different characteristics:

Detroit offers low entry points and high rent-to-price ratios but requires strong property management and careful neighborhood selection.

Birmingham has a strong economic foundation and is in a landlord-friendly state, which many investors appreciate for long-term stability.

St. Louis is known for its diverse housing stock and stable tenant demand.

Indianapolis is often called one of the most balanced investor markets - it has affordability, cash flow, and a steady population base.

Since you're planning to invest out of state, your biggest asset will be your team - an agent or provider who understands rental-grade investments, a trustworthy property manager, and reliable contractors (if needed). These professionals can make or break the experience, especially when you're managing from a distance.

You’re absolutely right to seek out people who share your long-term mindset. The best partnerships come from shared values, not just shared spreadsheets. Many of us in this community are more than happy to help or point you in the right direction, especially because we've been in your shoes not that long ago.

Wishing you the best as you build something meaningful - both financially and for your family.

Reach out if you want to chat more about specific markets or run some numbers on any deals. Excited to see where this takes you!

Best of luck,

Melissa

@Melissa Justice
"Indianapolis is often called one of the most balanced investor markets - it has affordability, cash flow, and a steady population base."

You’ve made several broad statements across multiple threads, and I’d like to see some specifics to support what you're saying. If you’re going to present these points as facts, it’s fair to expect you to back them up.

• Balanced Market: You stated that Indianapolis is a balanced market. What exactly does that mean to you? Please explain your criteria and provide some actual data to support it.

• Affordability & Cash Flow: What exactly is “affordable” in your view? What price points are you referring to, and in which neighborhoods or asset types are you seeing consistent cash flow? A vague reference to affordability isn’t very useful—let’s see numbers and real examples. Also, please don’t respond with the overused “A/B/C neighborhood” shorthand—be specific.

• Population Growth: You mentioned “steady population growth.” What’s your source? Please provide hard numbers or recent census/migration data that supports this claim.

• $100K–$150K Turnkey Properties: You brought these up in another thread and never followed up when I asked for more information. Since you chose to put that out there, I’d like to give you another chance to share some actual examples. What do these properties look like, where are they, and how are they performing?