Updated over 6 years ago on . Most recent reply
Beginner from San Jose, CA
Greetings BP community,
My name is Hendra Lim. I'm a software engineer from San Jose, CA. I became interested in investing in real estate in early 2018. My research quickly turned me to BiggerPockets. I joined BP in March 2018. Since then, I've been trying to educate myself as much as possible by listening to BP podcasts, reading blogs over here, and real estate related books. Now it's January 2019. I thought it's a good a time as any to take action, so I finally take the plunge write my first post here at BP.
My interest is in buying multi family properties for rental in B, and C+ neighborhoods for cash flows. I'm definitely looking forward to put in practice some of the tools that I have learned so far. I especially interested in utilizing BRRRR technique if opportunity shows up. Since Bay Area real estate price has been very intense, I'm interested in investing out of state. I'm currently looking at Indianapolis, IN and Jacksonville, FL, but definitely open to other markets.
Looking forward to be part of BP community, connect, learn from all of you, and contribute back to BP community!
Most Popular Reply
@Hendra Lim I don't know much about Jacksonville, but if you are interested in Indy, there is a Facebook group that is just for Indianapolis Out of State Investors. Great place to learn and network
https://www.facebook.com/groups/260862967817696
There are plenty of good markets out there with different types of opportunities. I think that the most important thing is to build a good team in one of your chosen markets (acquisitions, financing, project management, property management, etc.) Different cities/markets have different strategies that work differently as well, so ensure that you are listening to your team and understanding some of the nuances of that market. An Israeli associate of mine was telling me how they flopped a big development project in Birmingham because the design they chose was hip/trendy in Israel, but unappealing in Alabama and it was never as profitable as it was planned to be. I recommend visiting your target markets, meeting prospective members of your team, driving (and walking) neighborhoods and homes, and get a feeling for the city and its people.