A little about me- My wife and I live and work on the Central Coast of California and purchased our first home about two years ago in San Luis Obispo. We both have great jobs and good income between the two of us. We would ultimately like to end up in Tennessee, where my wife is from and where we met in college. My plan/goal is to build up enough passive income through Real Estate (specifically small multi family units in East TN, but not opposed to SFRs) to quit my current job, move back to TN, and be a full time investor by the year 2025. I plan to do this by reinvesting my profits into more properties and living off of our W2 paychecks. Currently working on networking and building a team of reliable professionals to work with over the coming years.
I have been interested in Real Estate Investing for the past few years, but only recently got the bug and really started getting into it. Every free second I have, I'm listening to podcasts/audio books, reading, or browsing the BP forums. I am specifically focusing on Long Distance REI (shout out to David Greene) and I'm all ears if anyone has any tips/tricks they would like to share.
Stoked to be a part of this awesome community!
@John Pearl hello and welcome to BiggerPockets!
You definitely came to the right place. You seem to have a very solid plan of action as evidenced by your post.
What I did when starting out (and what I do now) is send out blind offers to owners directly. That way, interested sellers can call me and we can work on a deal.
It's a numbers game, John. The more offers you send out, the more interested sellers will contact you, and the more deals you will close.
This one method I discovered has generated me success over and over again.
Happy to help further. Feel free to PM me. Once again, welcome, and I wish you all the best in your REI career!
Thanks for the great insight, @Jill DeWit !
@John Pearl Talk to some wholesalers and get on their mailing list. This will give you an idea of the price points and areas that are seeing deal flow. Also call property management companies in the area and ask where the up and coming rental areas are.
Thanks @Jose Guevarra ! I appreciate the advice! Wholesaling is an area that I need to do some more research on.. Will reach out to some companies and see what they’ve got to offer.
@John Pearl I live in California and invest in Indy with a similar plan :)
You have come to the right place, and I look forward in hearing how you do in your chosen market!
@John Pearl BTW. I live in Guadalupe. There are several real estate clubs in Santa Maria, Pismo, and around the Central Coast. Check them out on Meetup.com.
@John Pearl any update on how it's going in TN?
@Alyssa Dyer In all honesty, no progress has been made! I am still very interested in this pursuit, but a few life events have caused me to put the RE investing on hold. I'm still very interested and motivated to get in the game, but I will need to wait at least another 6 months until I'm able to take action. I'm constantly reading, learning, soaking up any information I can. Will update everyone once there's some action! Thanks for reaching out, Alyssa!
I hear you @John Pearl life happens! I'm hoping your first one gives you enough confidence to more quickly grab your second. You guys can do it!!
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