New OOS RE Investor from Oceanside, CA

New OOS RE Investor from Oceanside, CA

Oceanside, CA · Member since 2017 · 18 posts · 5 votes

Greetings BP family! My name is Robert Decraene (Rob) and I've been living in Oceanside, CA for the last 2 years; however, I've lived in southern California most of my life. I am also a family man with a 2 year old daughter. Last month I finished the BP Book on Rental Property Investing and flipped the proverbial switch toward becoming a RE investor. I want to become more involved in the forums now that I feel like I understand some foundational RE investing basics, and I figured the new member introductions section would be the best place to begin. 

Although I live in Oceanside, I am mostly looking to invest in out-of-state single and multi-family rental properties. My primary goal this year is to have my first property purchased and rented out by the end of 2018. I am a certified project management professional (PMP) and a tax analyst/auditor by profession, but I've played around with the idea of accepting a pay cut to work somewhere in the real estate industry. I have saved a decent amount of money to begin investing in properties outside California, and I'm trying to read and absorb as much RE knowledge as I can to ensure my first purchase is a success. I am really excited about this new chapter in my life and I'm looking forward to getting to know all of you across the site. Cheers!

-Rob 

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Sharad M.Pro Member
Carlsbad, CA · Member since 2010 · 1k+ posts · 1k+ votes
8y

Hi @Robert Decraene

If there is anything I can help with, please let me know.

Sharad

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26 Replies

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  • Real Estate Coach · Venice Beach, CA · Member since 2012 · 6k+ posts · 3k+ votes
    8y

    Welcome Robert! I remember when my proverbial switch flipped and I wanted to get into real estate. It was super fun, super exciting, and I loved exploring what all the options were. There's definitely plenty of them! I do think there was an upside to when I did it...I had to work harder at finding information and then what I did find was pretty concise and solid...whereas today, with BiggerPockets and podcasts and so many resources out there that you can so easily find information that it can become overwhelming and a lot more inaccurate information out there than there used to be when you had to physically buy books to read to learn it. But, the flip side of that is--how much information there is! So, have fun with it.

    And with your project management and tax experience, you'll be able to rock it out pretty quickly!

    I'm up in LA and also only invest out-of-state.

    Good luck!

  • Jacksonville, NC · Member since 2018 · 6 posts · 5 votes
    8y
    Good luck Robert! Coming from Oceanside myself and cannot wait to head back to So-Cal.
  • Real Estate Agent/Investor · San Diego, CA · Member since 2016 · 22 posts · 5 votes
    8y

    @Ali Boone Awesome insight! I am here in SD. There are definitely deals to be found, but I was curious to see, how you start your search for markets out of state. Do you look at job growth from the city website? or whats a great resource to get a 30k foot view on where might be promising!

    thanks in advanced for your reply ! 

  • Oceanside, CA · Member since 2017 · 18 posts · 5 votes
    8y

    Thank you @Ali Boone. Yes, there is definitely a ton of inaccurate information  out there and a lot of resources to choose from. I'll definitely make the best of it and I'll do my research to avoid inaccurate resources. The other day I briefly checked out your website and I noticed you offer turnkey RE investing services. I will keep you in mind if I come across someone that is looking for hands-free investing solutions. Did you begin as an out-of-state investor?

  • Oceanside, CA · Member since 2017 · 18 posts · 5 votes
    8y

    Thanks @Christopher Saldarriaga! Are you coming back to So-Cal permanently or just to visit? And just curious, do you invest out-of-state or in California?

  • Real Estate Coach · Venice Beach, CA · Member since 2012 · 6k+ posts · 3k+ votes
    8y
    Originally posted by @Robert Decraene:

    Thank you @Ali Boone. Yes, there is definitely a ton of inaccurate information  out there and a lot of resources to choose from. I'll definitely make the best of it and I'll do my research to avoid inaccurate resources. The other day I briefly checked out your website and I noticed you offer turnkey RE investing services. I will keep you in mind if I come across someone that is looking for hands-free investing solutions. Did you begin as an out-of-state investor?

    That'd be great, thanks! You or anyone are welcome to reach out directly anytime. 

    I did start as an out-of-state investor, although technically I started as an out-of-country investor as my first [intended] investment was in Nicaragua. ;) But it's been all out-of-state for a number of years now.

  • Rental Property Investor · Cleveland, OH · Member since 2015 · 1k+ posts · 880 votes
    8y

    Welcome to BP @Robert Decraene! A lot of people in SoCal look to remote investing to get the returns they are looking for. Sounds like you're on the right track! 

  • Lender · San Diego, CA · Member since 2011 · 664 posts · 231 votes
    8y
    Originally posted by @Robert Decraene:

    Greetings BP family! My name is Robert Decraene (Rob) and I've been living in Oceanside, CA for the last 2 years; however, I've lived in southern California most of my life. I am also a family man with a 2 year old daughter. Last month I finished the BP Book on Rental Property Investing and flipped the proverbial switch toward becoming a RE investor. I want to become more involved in the forums now that I feel like I understand some foundational RE investing basics, and I figured the new member introductions section would be the best place to begin. 

    Although I live in Oceanside, I am mostly looking to invest in out-of-state single and multi-family rental properties. My primary goal this year is to have my first property purchased and rented out by the end of 2018. I am a certified project management professional (PMP) and a tax analyst/auditor by profession, but I've played around with the idea of accepting a pay cut to work somewhere in the real estate industry. I have saved a decent amount of money to begin investing in properties outside California, and I'm trying to read and absorb as much RE knowledge as I can to ensure my first purchase is a success. I am really excited about this new chapter in my life and I'm looking forward to getting to know all of you across the site. Cheers!

    -Rob 

     Rob, you should check out the next two meetings at the NSDREI here in Oceanside. This month is there will be multi-family investors speaking and next month @Sharad M. is going to talk about his many out-of-state investments. Hope to see you there.

  • Oceanside, CA · Member since 2017 · 18 posts · 5 votes
    8y

    Hi @Bruce May, I appreciate the recommendation. I signed up for this month's meeting and am looking forward to checking it out. I'm not that far along with my knowledge of real estate investing, so I'm sure this gathering will be helpful and informative. I hope to see you there as well. All the best! 

    -Rob

  • Sharad M.Pro Member
    Carlsbad, CA · Member since 2010 · 1k+ posts · 1k+ votes
    8y

    Hi @Robert Decraene

    If there is anything I can help with, please let me know.

    Sharad

  • Oceanside, CA · Member since 2017 · 18 posts · 5 votes
    8y

    Thank you for the welcoming message @Matt Motil! You're all over the new member forums and are actually the first BP profile I clicked on last week. Yeah, remote investing seems to be my best option for better CF returns. Now I just need to do all the research and analysis to determine the best out-of-state communities to invest in. Please let me know if you have any suggestions or pointers on where to begin. Take care and thanks again!

  • Oceanside, CA · Member since 2017 · 18 posts · 5 votes
    8y

    Hi @Sharad M.

    Thank you, I appreciate the kind offer.  I look forward to hearing you speak about reSimpi and your portfolio at next month's NSDREI meeting.

    Rob

  • Oceanside, CA · Member since 2017 · 18 posts · 5 votes
    8y

    Sounds great. Wow, Nicaragua is bold first investment! One of my college friends just opened up a hostel in Tola, Nicaragua. I've never been but I heard it's very beautiful. 

  • Rental Property Investor · Escondido, CA · Member since 2018 · 268 posts · 137 votes
    8y

    Robert, first off, welcome. Our interests, as well as our locations, seem similar. I am also looking towards OOS rentals, and I like your line about "trying to read and absorb" because that's what I'm currently immersed in as well.

  • Oceanside, CA · Member since 2017 · 18 posts · 5 votes
    8y

    Thank you @Account Closed. Yes, our interests definitely coincide and we are very close in proximity. Currently I'm reading David Greene's book on Long-Distance Real Estate Investing and then I plan on creating real estate investing notes with key takeaways while researching different markets outside California. This learning process has been time consuming but very energizing and exciting. How far along are you in the process of investing OOS?

  • Rental Property Investor · Escondido, CA · Member since 2018 · 268 posts · 137 votes
    8y

    @Robert Decraene, it sounds like I'm right there with you on where we are in the process as well. I had David Greene's book as well as two by Brandon Turner arrive Saturday, although I'm first finishing Rich Dad, Poor Dad since it's a library check out. I took some time to list my broad goals and smaller goals this weekend. I've started seeing what's available in a few OOS markets, and had a few conversations with other investors and an agent. I agree that the process is both time consuming and energizing.

  • Investor · Redondo Beach, CA · Member since 2017 · 134 posts · 46 votes
    8y

    Welcome Robert! I'm relatively new myself and have found the information here very useful, but have to agree with @Ali Boone, sometimes you get information overload. 

    I'm here CA too, so anything I look at is out of state (oos). 

    Good luck and welcome. 

  • Jacksonville, NC · Member since 2018 · 6 posts · 5 votes
    8y
    Im back in Oceanside now just to finish out my military contract. Im gearing myself towards OOS investing almost completely. I wanted to recommend “Out of State” by R.M. Andrews. I got it on I-books but I think he sells a physical copy. Huge eye-opener and it has some really useful information.
  • Oceanside, CA · Member since 2017 · 18 posts · 5 votes
    8y

    @Account Closed Very cool. Rich Dad, Poor Dad is the first investing book I read as well. And that's great that you are listing and tracking your goals; that's the only way to keep yourself on track and aligned with your objectives. Well hopefully I'll see you around at a MeetUp or an NSDREI meeting.

  • Oceanside, CA · Member since 2017 · 18 posts · 5 votes
    8y

    Thank you @Vera Herlihy. Yeah, the forums can be intimidating for that very reason. One of my best college friends lives in Redondo Beach. Very nice area.

  • Oceanside, CA · Member since 2017 · 18 posts · 5 votes
    8y

    @Christopher Saldarriaga Thank you for your service. Hopefully you don't have too much time left to fulfill on your contract. I really appreciate the book recommendation. I just checked it out on Goodreads (4.78/5) and saved it to my library as a future read. Currently I'm halfway through David Greene's book on Long-Distance Real Estate Investing and it is a fantastic read so far with a lots of great information. I'll check out "Out of State" once I'm finished. Thanks again!

  • Investor · Redondo Beach, CA · Member since 2017 · 134 posts · 46 votes
    8y

    Hi Christopher thanks for the recomendation

  • Investor · Redondo Beach, CA · Member since 2017 · 134 posts · 46 votes
    8y

    @Robert Decraene it's a small town.  Let me know if you're ever up here, if there a chance would love to meet you.

  • Oceanside, CA · Member since 2017 · 18 posts · 5 votes
    8y

    @Vera Herlihy I would enjoy the opportunity to meet and collaborate with you as well. I will reach out to you next time I'm in the area. 

  • Investor · Redondo Beach, CA · Member since 2017 · 134 posts · 46 votes
    8y
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