Atascadero, CA · Member since 2018 · 5 posts · 3 votes
Hello! We are Michelle and Richard Clark, two young professionals looking to get into REI. Having done some research and discussed, we're looking to do some BRRRRing and invest in some cash-flowing mutlifamily properties. Given we live in an area of California that has high entry costs, we've made the decision to investigate out-of-state options like Cleveland, OH and Little Rock, AK. That said, we're open to suggestions on other areas worth looking into. Following the sage wisdom of David Greene, our plan is to establish a "Core 4" team in a few different markets and develop those into profitable business relationships.
As we've just started on this path, any advice is welcome, and anyone interested in working with motivated fledgling investors, please feel free to reach out!
Hello! We are Michelle and Richard Clark, two young professionals looking to get into REI. Having done some research and discussed, we're looking to do some BRRRRing and invest in some cash-flowing mutlifamily properties. Given we live in an area of California that has high entry costs, we've made the decision to investigate out-of-state options like Cleveland, OH and Little Rock, AK. That said, we're open to suggestions on other areas worth looking into. Following the sage wisdom of David Greene, our plan is to establish a "Core 4" team in a few different markets and develop those into profitable business relationships.
As we've just started on this path, any advice is welcome, and anyone interested in working with motivated fledgling investors, please feel free to reach out!
I’m a local investment property specialist and licensed realtor here on the Central Coast operating throughout San Luis Obispo County. I understand your frustration with the market prices here and realize it may be easier to start off investing in another market. I’d recommend you network or partner with others who have more experience on the first few deals. Also make sure you stay focused and become very knowledgeable about the market you want to invest so I would try to narrow down the markets that you will initially be investing in, it will be easier to build a team and spot a deal as well as build relationships if you focus on one or two markets when starting. My mentors taught me to invest in my own backyard because it’s easier to manage projects and know ones own market if they live in it as well as use pre existing relationships. That said it’s totally possible to do what you want to do and invest out of state, just Ben very weary and do your due diligence before spending your first dollar. If you’d like to meet up and network and discuss RE investing and local and out of state deals I’m always happy to meet up! Let me know if you have any questions and hopefully I can try to answer them. Also let me ask, what reasons make you want to invest in Cleveland or Little Rock?
Attorney · Cabot, AR · Member since 2016 · 130 posts · 39 votes
7y
As you are interested in Little Rock, Arkansas, I'd encourage you to check out the Commissioner of State Land's Tax Deed auctions. You can find them online here: http://www.cosl.org/catalog.aspx
Little Rock is in Pulaski County, and they usually have HUNDREDS of properties up for auction, each year. I believe there were over 600 properties, at last year's auction. Single family, multi-family, commercial... you name it.
The auctions for Pulaski County take place April 9th, but the Commissioner hasn't added all of the details to their site, yet. Check back in a few weeks for more information. They will add links that take you to pictures, "interested parties," and more.
Attorney · Cabot, AR · Member since 2016 · 130 posts · 39 votes
7y
@Dan Ruiz The auctions take place in person, but you can also bid by mail (assuming you know which property to bid on, and send in your bid in advance).
Properties that are not sold at auction are listed on a "post auction" list, and you can make an offer on those through the mail.
Most out-of-state investors come into town for the one day auction, or send in offers on the post-auction listings.
Real Estate Coach · Venice Beach, CA · Member since 2012 · 6k+ posts · 3k+ votes
7y
Wlecome Michelina! I'm also in CA and do out-of-state. I stick to the turnkey route, but regardless of which route you go, there's lots of opportunity!
Good luck and keep everyone posted on how it goes!