New Investor from San Francisco, California

New Investor from San Francisco, California

San Francisco, CA · Member since 2014 · 6 posts · 2 votes

Hi Bigger Pockets!

My name is Chris, and I'm brand new to the real estate investing landscape. I found my way to the site through a handful of bloggers in the financial independence/early retirement community. I've been listening to the BP Podcast on my commute for the past few weeks and have managed to learn a good deal already-- There's quite an impressive community and wealth of information here!

Coming from the FI motivation, I'm looking for a way to build enough semi-passive income over the next few years to cover my living expenses, and I'm currently hoping to accomplish this by assembling a buy-and-hold portfolio of single and small multifamily rentals. While I'm open to local opportunities, the Bay Area at first glance seems a bit competitive for me with my full-time job in technology and somewhat modest amount of income earmarked for a first acquisition, and I suspect there might be clearer opportunities for solid cash flow elsewhere. I'm beginning to research out-of-state investing, mostly focusing on turnkey opportunities in larger cities in the midwest (Cleveland, Chicago, St. Louis, Indianapolis, and Cincinnati in particular), where I have a good core of friends and family.

In my free time, I enjoy outdoors activities (backpacking, rock climbing, mountaineering), international travel, language learning, and reading.

I look forward to learning a good deal here and to contributing what I can to the community!

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Real Estate Attorney, Broker, Investor · Indianapolis, IN · Member since 2013 · 207 posts · 58 votes
12y

Chris,

Welcome to the BP community! If you ever want to discuss the Indianapolis market, please fee free to contact me.

As you may have heard, great opportunities in Indy with the surplus of real estate here! Would love to hear from you.

Happy Investing!

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  • Investor · Chicago, IL · Member since 2013 · 451 posts · 96 votes
    12y

    Welcome to BP you might like to take a look at this thread when deciding where to invest if you plan on holding and renting: http://www.biggerpockets.com/forums/52/topics/124900-landlord-friendly-locations

  • J. MartinPro Member
    Rental Property Investor · Oakland, CA · Member since 2011 · 3k+ posts · 2k+ votes
    12y

    Welcome to the site @Christopher S. !

    I'm an investor from the East Bay, and despite what you may hear, there is cash flow out there! You just have to work a lot harder for it! There's lots of great people from the Bay on this site. And BP has a great search feature - just try East Bay Meetup or SF Meetup to locate some of the local investors..

    Good luck on your adventure out in the midwest! I may do out of state some time too.. but I like here for now..

  • Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    12y

    @Christopher S. welcome to the site. Im very familar with Cleveland if you have any questions or want to discuss let me know.

  • Real Estate Investor · Durham, NC · Member since 2014 · 89 posts · 32 votes
    12y

    Welcome @Christopher S. ! I am actually coming from a very similar background and striving for FI. If you are up for it, feel free to connect with me and PM me - I'd love to compare FI notes and blogs!

    In terms of REI, I am also just getting started in the turnkey game. Living in NYC, I didn't think real estate was a possibility for me until I learned about turnkey investing. I am currently focusing on Indianapolis and Chicago as I get started.

    It's great to have more FIRE people on BiggerPockets!

  • Real Estate Attorney, Broker, Investor · Indianapolis, IN · Member since 2013 · 207 posts · 58 votes
    12y

    Chris,

    Welcome to the BP community! If you ever want to discuss the Indianapolis market, please fee free to contact me.

    As you may have heard, great opportunities in Indy with the surplus of real estate here! Would love to hear from you.

    Happy Investing!

  • Memphis, TN · Member since 2013 · 969 posts · 524 votes
    12y

    Welcome to BP!!! If you need any advice on the Memphis market I am available.

    Thanks

    Derrick

  • Investor · San Francisco, CA · Member since 2013 · 147 posts · 97 votes
    12y

    welcome to the BP family. I live in San Francisco and invest in Memphis. Fee free to reach out.

    Good luck,

    Haim

  • Mike D'ArrigoPro Member
    Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes
    12y

    @Christopher S. welcome to BP. I think you'll find this a great forum and a good source of information. I'm from the Bay Area also but do everything in Indianapolis and Kansas City. Both are good cash flow markets. Going out of state can be a little intimidating at first, but the returns can be well worth it if you do it right. I have a report on how to invest out of state that I'm happy to share with you if you'd like.

    Wishing you much success.

    Mike

  • Residential Real Estate Broker · Indianapolis, IN · Member since 2010 · 1k+ posts · 557 votes
    12y

    Welcome @Christopher S. !

  • Real Estate Investor · Southern CA · Member since 2013 · 86 posts · 41 votes
    12y

    Welcome to BP Chris! Good luck in your RE ventures!

  • Investor · Santa Clara , CA · Member since 2013 · 155 posts · 144 votes
    12y

    @Christopher S. Welcome from another Bay Area investor who's also focused on getting to FI! Feel free to reach out if you have any questions or want to connect with a local.

  • Engelo RumoraBusiness Member
    Investor · Toledo, OH · Member since 2013 · 4k+ posts · 2k+ votes
    12y

    @Christopher S.

    Hi Christopher,

    Welcome to BP.

    You will find this forum to be a great source for knowledge.

    Your choice of market is great. Our group bought over 30 properties in KC last year.

    Started buying quite a few in Toledo over the last few weeks.

    The Midwest offers some amazing value.

    Thanks and have a great day.

  • Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
    12y

    Welcome to BP community @Christopher S. It is a great place to meet new friends and learn about various aspects of real estate and more. Here are a few recommendations for you:

    Find and connect with other BP members that are in your area http://www.biggerpockets.com/meet

    Set up keyword alerts to be notified of the topics that interest you http://www.biggerpockets.com/alerts

    If you wish to tag someone in the conversation on the forum, type @ followed by their name and then select that person below. He or she will be notified of being tagged so that the conversation will continue.

    Wishing you the best!

  • Rehabber · Fishers, IN · Member since 2014 · 17 posts · 1 vote
    12y

    Welcome @Christopher S.

  • San Francisco, CA · Member since 2014 · 6 posts · 2 votes
    12y

    Thanks everyone for the warm welcome, links, and tips!

    @J. Martin , I'll definitely look into local meetups. I'm very curious to learn about local opportunities, as well, as I genuinely have a lot of faith in the future of the economy and desirability of this place, even if I do end up starting my search farther from home.

    @James Wise Thanks! I'll likely be in touch soon. I went to school in Cleveland, so I've seen the recent renaissance and see it as a friendly place to start, so I'm very curious to hear your take on the market.

  • Hockessin, DE · Member since 2011 · 13 posts · 4 votes
    12y

    Welcome Chris! Glad to have you here.

    Regarding the markets you're considering, I happen to know investors in all the market except Cincinnati, and I personally invest in St. Louis and Kansas City. Time to get a power team set up so you can get your first deal done :-)

    What are your biggest sticking points now and how have you been dealing with them?

  • San Francisco, CA · Member since 2014 · 6 posts · 2 votes
    12y

    @Jay Y.

    @Jay Y.

    Thanks! It's exciting to see people with common goals. I'm pretty early on in my FI journey (just began to grasp the notion and possibility of it this past November), but I can definitely see the usefulness of real estate in shortening the time line.

    I'll happily take you both up on your offers to connect.

  • San Francisco, CA · Member since 2014 · 6 posts · 2 votes
    12y

    @Ken Siew

    Thanks! It's good to be here. I've not been working at this long enough to have encountered major sticking points yet, but of what I can foresee:

    • Being that I'm experimenting with this and want to keep the other parts of my FI goals intact, I've set an RE allocation for my overall portfolio and I'm trying to stay disciplined about it. I'm saving up hard right now, but I'm a bit limited by my available down payment money at the moment (can discuss details/numbers by PM). I expect to have about twice as much by fall, which was about when I was thinking to pull the trigger on my first deal.
    • I have a lot of research to do before dialing in on which market I'll be starting in, after which I need to go about finding a reputable local turnkey company, property manager, and lawyer. After having done some research online on my own, I've set up keyword alerts on the site for cities and topics of interest. I imagine I'll spend a lot of time asking local experts about these things in particular as well.

    Do you have a specific niche and strategy that you prefer, or are you more of a generalist? Where did you get your start on out-of-state deals?

  • Real Estate Coach · Venice Beach, CA · Member since 2012 · 6k+ posts · 3k+ votes
    12y

    Hey there! Somehow I missed this thread so a little late to it, but great to meet you. I'm down in LA and only invest out-of-state, but even more fun, I love backpacking and international travel too! Where internationally do you like to go? I'm on the more adventurous side so usually like 3rd world over 1st world, but I'll go anywhere. I haven't backpacked extensively as far as hiking... I hike a lot and I backpack between hostels in whatever country a lot, but not the backpacking + hiking combined as much.

    Very cool!

  • San Francisco, CA · Member since 2014 · 6 posts · 2 votes
    12y

    Slowly moving through my responses here, haha-- thanks again, everyone.

    @Derrick Craig , @Haim Mamane Palman

    Thanks for the responses! This is the second or third time in the past week or two that I've heard talk about investing in Memphis. What's the biggest draw to the market there in your eyes?

  • San Francisco, CA · Member since 2014 · 6 posts · 2 votes
    12y

    Hi @Ali Boone !

    Thanks for stopping by. :) I agree with your adventurous travel philosophy completely! My biggest international trip was right after graduating from school-- I took a few thousand in saved cash and moved to Argentina. I spent the first of two years down there in Buenos Aires working as a freelance university chemistry tutor and English teacher to scrape together some money while learning Spanish. The second year I spent hitchhiking through Argentina, Chile, Paraguay, and Uruguay, picking up odd jobs in hostels and as a backcountry mountain guide along the way. It's my time down there that planted the seeds for establishing a lifestyle that would allow me to continue doing similar things.

    What kind of investing do you do, and what are your favorite areas out of state? I also see you have Nicaragua listed in your profile under markets-- I'd be very curious to hear about that.

  • Memphis, TN · Member since 2013 · 969 posts · 524 votes
    12y

    @Christopher S.

    Here is my biggest draw to the Memphis market click link below

    http://www.memphisbuyandhold.com/market

    and don't forget Bar B Q!!! LOL!!

  • Washington · Member since 2013 · 2 posts · 0 votes
    12y

    Welcome , Investor .I'm a newbie as well .

  • Washington · Member since 2013 · 2 posts · 0 votes
    12y

    Does this forum have state wise category ?

  • Real Estate Coach · Chicagoland · Member since 2013 · 502 posts · 101 votes
    12y

    @Christopher S. welcome to the site!

    I have a really similar vision for my real estate endeavors and I'm also local, along with a lot of people on this thread.

    Feel free to reach out if you want to meet up or if you ever have any questions.

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