New member from Anaheim, California

[Edgar Estrada]

Hello BP members,

My name is Edgar Estrada from Anaheim, California. I am Cal State Fullerton graduate in marketing and currently employed at a location-based marketing technology working as a Sr. SEO specialist.

I am fairly new to real estate. I am currently looking to learn as much as possible about rental real estate investing. Interested in the buy & hold strategy with the intention of purchasing a duplex, triplex or quadplex. I've been reading the BP podcast for quite some time now as well as read Brandon Turner 'The Book on Rental Proper Investing'. 

I've already reached out to several real estate agents, but seeing as how I am based in Southern California (CA), you can imagine the high property prices out here which really don't make for the best cash flow investments. 

Looking to hear suggestions or recommendations on what other BP members have to say on their out of state purchasing experience. Would you recommend me wait for a good deal here locally or perhaps look into out of state turnkey investing with a company that specializes in turnkey? 

Regards,

Edgar 

[Marco Santarelli]

Originally posted by @Edgar Estrada:

 

@Marco Santarelli - Thank you so much for your insight. I can tell you right now that I am definitely leaning more towards option 2 as you have recommended. 

As you mentioned, you started investing out-of-state 13 years ago. How have you made out-of-state investing work for you if you don't me asking?

What markets do you invest? Is there any buy and hold cities you would recommend a beginner investor to explore investing in? I commonly hear Pittsburgh, Austin, Charleston, Memphis.

Thanks again! 

Edgar

Those are two BIG questions Edgar... 

I've been able to make it work by assembling the right team of people of time, creating a purchase process, and making mistakes that led to experience that allows me to analyze a market, neighborhood, property, profit/loss, property manager, etc.  (Obviously I eventually turned all that into a business.)

I'm investing in Kansas City (MO) right now.  I'm also looking at Birmingham (AL) and Indy (IN).

Pittsburgh may be difficult because of the rent-to-value ratio there.  Austin has become a little too expensive.  Charlotte has some good pockets but it's hard to find inventory there today.  Memphis works almost all the time (good cash-flow but low appreciation).

If you're thinking about other markets, you may want to consider scheduling a free strategy session with one of our Investment Counselors.  They can get into the finer details on each market.

Continued success!