Real Estate Agent · Denver, CO · Member since 2019 · 17 posts · 6 votes
Hey BP community,
My name is Eric Geers, and I live in Irvine, CA. I'm currently a land planner at Bassenian Lagoni Architects in Newport Beach specializing in designing residential communities. A friend of mine, who is an investor in the Indianapolis, IN area (I'm originally from Fort Wayne, IN), turned me onto BiggerPockets. I am interested in getting into real estate investing, but obviously prices in Southern California are a bit intense. I would like to invest in other markets in the Midwest (i.e., the Indianapolis area), and would love any advice from someone else who is doing something similar! I'm looking forward to learning as much as I can here.
Irvine, CA · Member since 2016 · 545 posts · 614 votes
7y
@Eric Geers Welcome to BP Eric! I live in Irvine as well near Irvine Spectrum.
I've looked at the Midwest and other Out Of State locations, IN. OH, TN, OK, VA, MD, and DC. With the exception of DC and VA I haven't been able to find any solid overall investments.
I'm seeing some Cash flow opportunities but they don't fit my criteria because they're in Class C- D neighborhoods which I don't invest in. If you're from the IN area you may have better luck finding deals because you'll know the neighborhoods better.
Couldn't disagree with you more. I live in Ottawa, Canada and invest in South Bend IN. Market here in Ottawa is similar to CoCal. 3-4% CAP rates. Very hard to find value or cash flow. If I only did deals in my back yard, I wouldn't have done 4 fix and flips last year and added 5 doors to my portfolio. Everyone has their own risk tolerance.
@Eric Geers. Investing in real estate is all about relationships. Whether you are in your back yard or another state. Take some time to establish relationships with agents, contractors and property managers in your market. They will be the keys to your success. Leverage technology to stay on top of things. Feel free to connect with me directly if you need any suggestions or support.
My name is Eric Geers, and I live in Irvine, CA. I'm currently a land planner at Bassenian Lagoni Architects in Newport Beach specializing in designing residential communities. A friend of mine, who is an investor in the Indianapolis, IN area (I'm originally from Fort Wayne, IN), turned me onto BiggerPockets. I am interested in getting into real estate investing, but obviously prices in Southern California are a bit intense. I would like to invest in other markets in the Midwest (i.e., the Indianapolis area), and would love any advice from someone else who is doing something similar! I'm looking forward to learning as much as I can here.
Thanks,
- Eric Geers
Hello Eric, Southern california isn't indeed the right place for cash flow but since you work as a land planner at an architecture company why not looking into value add projects in orange county or find properties suitable for development? that would maybe be a better use of your resources
Real Estate Agent · Auburn, IN · Member since 2015 · 38 posts · 7 votes
7y
Open Door Rentals and Real Estate would love to help you out in your investing in Fort Wayne if you are interested! We have 3 full time Real Estate agents and Property Managers in Fort Wayne and the Auburn area. If interested we would love to help you out with your investing.