Newbie from Souther California
Hello BP Community. I am a soon to be invested located in Southern California. I plan to invest in Indianapolis and Kansas City market places. Mostly interested in turn-key rental properties and hope to build a portfolio up over the next 5-years. Looking forward to this great community of knowledge and advice. Thank you.
Hi Kyle,
I love the Indianapolis and Kansas City for cash flow. We've been selling turn key properties in both markets for years. I'd be happy to share my insights if you'd like to contact me.
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#2 New Member Introductions Contributor
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- Rockland, MA
Welcome. Fill in the foundation below.
Check out the Start Here page http://www.biggerpockets.com/starthere
Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.
Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 100 past ones to catch up on.
Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers (cash buyers). Find them through Google and meetup.com
Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook
Consider checking out HUD homes for small multi's owner occupied gets first crack.
To find out about an area go to IREM.org search for ARM certified property managers. Call 5 ask them what they see expenses running per category per unit. What do they see them selling for per unit, what is the market occupancy rate. What are the market rents? Ask them if they know anything coming up for sale. Great way to pick up some good info and possibly a deal.
You can also search NARPM.org for the RMP (Residential Management Professional) and MPM (Master Property Manager) certified.Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over
Good Luck
Paul
Kyle,
I live here in Kansas city and am very familiar with helping investors out of state get set up turn key with rental properties. Anything from single family all the way to 200 to 300 unit apartment complexes.
Shoot me a message if interested.
Thank you all for reaching out and welcoming me. I will stay in touch through this exciting new endeavor and hope to work with you.
@Kyle Sturmanfind a good honest property manager. I had the unfortunate experience of using a crooked property manager in St Louis last year. Don't send money to a property manager if you need extensive rehab done on a house. If you ever have questions about out of state investing or the Kansas city market, you can send me a email.
Originally posted by @Kyle Sturman:
Hello BP Community. I am a soon to be invested located in Southern California. I plan to invest...
Kyle,
Welcome to BP! Congrats on joining the real estate space.
I encourage you to check out this guide to successful turnkey investing: A Simple Guide to Buying Out of State Turnkey.
Successfully buying outside of your local market comes down to having a good team that can handle any issues that come up. The most important decision you make when investing out of state is choosing who you will work with.
Feel free to reach out to me with any questions. I'm happy to help.