New Member, Orange County, CA

21 Replies

Hello BP Community! I am excited to join the community. I live in Orange County California and I am looking to invest in rental property out of state.

I have been spending the past few months listening to the BP podcasts (58 down!) and reading David Greene’s book “Long Distance Real Estate Investing”. I also received great advice from the BP community and read the postings of @ToddDexheimer which are awesome!

My goals for my first property will be to purchase a single family up to a quad (depending on the opportunity). I am currently targeting Fort Wayne, IN and I am hoping to find and close on my first property by year end.

Thank you to BP for this site and great community!

Welcome to the BP community @Chris Maudlin ! I live here in Fort Wayne, IN, so I would be curious to know how you picked Fort Wayne out of all the other cities in the nation. Feel free to send me a PM and I can try to answer any questions you may have on the area or any questions in general as I always enjoy expanding my knowledge by talking to other investors.

Thank you Ezichi, Andy, Larry, and Tyler!  I appreciate all the welcome comments and the questions!

So I am located in Orange County, CA.  The median home price here has gone over $700K, pretty crazy! I had been looking for a way to get into Real Estate again (we owned our house in the South Suburbs of Chicago before my company moved us out here) and knew that buying a home here did not make sense. I stumbled across BP a few months ago when looking for some guidance for long distance Real Estate Investing.  I knew I couldn't be the only person having his issue and here ad to be others I could learn from.  I read David Greene's book and have been devouring the BP podcasts the last month (I think I have listened to over 60 so far).

Anyway to answer the question on why Fort Wayne. After reading David Greene's book I began researching different cities and looking population growth, median incomes, poverty levels, unemployment rates, average home prices, permits issued for new SF houses, cost to build new homes, and the cos of living index.  I had a list of around 25 cities that I had narrowed my list down to bast on these data points.  At this point I narrowed my list to a top 5 and decided on Fort Wayne due to the positive data I had been finding in my research, the favorable cost of entry point and my familiarity with the Chicagoland and northern Indiana from my time living in the area.  

While I have personally never been to Fort Wayne I am back in Chicago a few times a year and he fact that it is not too far from my in laws helped tip the scales to starting my investing career in Fort Wayne.

Currently I am working with a lender to determine what I would qualify for to help me start narrowing down a price point to get started with.  

I have been contacted by a few BP members that have been very helpful with insights and I am looking forward to continuing to talk with them as my focus is narrowed over the next couple of weeks.  

Thank you all again for the great comments and questions!

@Chris Maudlin Although I know the Indianapolis market well, I don't know Fort Wayne real well. It may be a perfectly good market for investment but my recommendation would be not to choose a market just because you have family or friends that live there. That says nothing about whether the market fits your particular investment objectives. 

Greetings from down the steeet in Laguna Niguel. I’m a out of state investor, buy and hold, 5 1/2 years of steady growth. It can be done. 

Looks like a good plan, it does seem to be an endless choice. I assume you are going for long term cashflow? I would guess that those areas do not have alot of upside. 

I am in OC and have thought long and hard about going out of state. I have only bought properties in OC and LA and really find the boots on the ground is where my comfort level is. I tend to buy fixers, hold and rent and then sell after a year or two.

Keep us posted

Originally posted by @Tyler Derickson :

Welcome to the BP community @Chris Maudlin! I live here in Fort Wayne, IN, so I would be curious to know how you picked Fort Wayne out of all the other cities in the nation. Feel free to send me a PM and I can try to answer any questions you may have on the area or any questions in general as I always enjoy expanding my knowledge by talking to other investors.

Originally posted by @Chris Maudlin :

Hello BP Community! I am excited to join the community. I live in Orange County California and I am looking to invest in rental property out of state.

I have been spending the past few months listening to the BP podcasts (58 down!) and reading David Greene’s book “Long Distance Real Estate Investing”. I also received great advice from the BP community and read the postings of @ToddDexheimer which are awesome!

My goals for my first property will be to purchase a single family up to a quad (depending on the opportunity). I am currently targeting Fort Wayne, IN and I am hoping to find and close on my first property by year end.

Thank you to BP for this site and great community!

 Welcome to the site.

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