New excited and ready

[Marques Dredd]

This is my first post and it feels pretty... Exciting! I'm an engineer, medically retired Air Force veteran. Married to the most amazing women and we are motivated to gain some financial freedom. We own 1 rental property and currently live in our second property as we make some upgrades and prepare to make it our second "Door" e used VA loans to buy both our first and second home. I have a million questions and really don't know where to start. We moved into this property hoping to be in it for a year. It's been 1 year and 4 months. We would like to move to a forever home and continue to invest in more rentals but rates and prices make it... look... let's just say that feeling when you're standing on the edge of a cliff and the rope to swing is just close enough to touch the tip with your finger but you can't can't quite grab it! We are thinking of trying to flip a home to get some more cash to:

1. Learn the process 

2. buy a more permanent home

 3. Continue to flip to use cash to buy long term buy and hold properties. 
4. do what I imagine everyone here wants... get some financial freedom. 

i love my job and honestly would work on some level even if i was financially free. I've also heard it is much easier to buy property with a W2 as a base. Well that's me/us and I'm excited to use this platform as a source to grow, learn meet like minded people and create small "wins" on our path to big wins and financial freedom. Oh one more thing! I hear about everyone investing everywhere but not so much in California I'm interested in other places but want to get started in California is that a bad approach?

[Melissa Justice]

@Marques Dredd,

Hey! First off, welcome - your energy and focus are exactly what makes this journey exciting. A few thoughts based on your goals:

California vs. Out-of-State Investing:
California can be tough for cash flow, especially for first-time investors. Even in smaller markets, high purchase prices and high taxes can make positive cash flow hard to achieve.

Out-of-state investing, particularly in the Midwest and Southeast, is often a better starting point if cash flow is a priority. States like Ohio, Mississippi, Alabama, Georgia, and Texas have strong rental demand, affordable single-family homes, and turnkey options that let you start without a ton of renovation work.

Why Turnkey Rentals Might Work for You:
You can start building a portfolio with cash-flowing properties without having to self-manage renovations or deal with extensive rehabs, which is great if your time is limited.

Midwest/Southeast turnkey properties often offer higher cap rates, meaning more immediate cash flow that can fund future purchases or flips.

Using your W2 income, you can leverage financing on these properties to scale faster while keeping risk manageable.

Flipping vs. Buy-and-Hold:
Flipping is a great way to learn the process and access more capital, but it’s time-intensive and can be stressful if done alongside your current life.

Many investors use flipping as a short-term strategy to fund long-term buy-and-hold properties, which is exactly what you’re considering - this combo can work really well.

Next Steps:
Determine your budget and financing options for out-of-state turnkey properties.

Research a handful of turnkey markets in the Midwest/Southeast and connect with reputable property managers and property source providers.

Start small with one property, learn the process, then scale as your comfort and capital grow.

Always happy to chat more about specific markets that have worked for other investors. Feel free to DM me.

Best of luck!