My name is Gorden and I have just started my real estate investment journey with an out of state buy and hold rental property and planning to buy some more in the near future.
Closing the first deal has been an immense learning experience which no book could have taught me and I am sure there are many other folks like me in bay area who are also investing out of state and I would love to connect with them and we all can learn from each other!
If you are a out of state investor and are interested in meeting/networking other out of state investors then please reply.
I did not see a recent thread like this so thought of starting this discussion.
I would love to connect. I am in the Bay Area and this year I have bought 3 properties in Indiana. Looking for other markets as well in the near future. Let me know if meet up gets organized and I'll definitely attend if I'm able to.
@Luis Escobar : Congrats! 3 properties in a year! Thats pretty cool! I have heard great things about Indiana market. I am currently investing in Huntsville AL and planning to buy few more there. We can definitely exchange notes.
Yes, definitely. I bought my properties in Fort Wayne and so far they are doing fine and I feel good about the team I built on the ground there. Funny thing is I have been considering Birmingham, Alabama recently so I would be interested in hearing about your experience there so far.
Hello Mr. Lopes. I have just begun my journey and am looking to grow. I am currently hunting for a good market to get started in using the buy and hold strategy. I can learn a lot from you and one day I can return the favor in good info of markets and maybe partnerships!
@Luis Escobar I've been investing out of state for over 10 years. In fact, I just started investing in Bham AL this year. Have bought 3 so far and looking to add more. Let me know if you have any questions.
One thing I've learned about out of state investing is the most important thing is great property management. Your manager can make or break you in my opinion. Make sure you vet them properly - search BP for recommendations or post yourself asking for them. Then hit up individual investors in that market via direct message and get their opinions. Start building relationships with local investors b/c they can help immensely as well.
@Gorden Lopes Good to see another fellow Huntsville Investor. I am not invested there yet but have been doing research on the area, and I like it. Mind if I ask you why you choose Huntsville over anywhere else?
@Derrick Gamez , I'm a Huntsville native so if you need any assistance, boots on the ground, I can help. Just hit me up. :)
Glad to know that you are also looking at huntsville. The numbers there just makes more sense and the city's economic is really stable with good influx of jobs.
I’m newbie and would like to invest out of state rental property in the near future.
Hi guys, I'm also a newbie and am looking out of state. I just had a friend move to Huntsville, AL because her husband got a job with Aerojet and it seems like so many people are moving there for the same reasons. I want to buy and hold and would love to learn more or meet up.
Hi Gordon, I am in Oklahoma doing some investing in Sacramento, plus I have 9 rentals in Oklahoma. I am on the other side, but let me know if you have any questions about my area.
@Gorden Lopes I bought 5 in Atlanta. 4 in Birmingham. And 1 in Indianapolis. Let me know if there is a specific question I can help on.
@Jeanine P. Hi Jeanine. I am retired from the military and now live in Italy. I too invest long distance as yourself in FL and have been looking at Indianapolis and TX. Can I PM you to get some info from you in those markets? Thanks in advance
Thanks for the mention @Ross Denman .
@Gorden Lopes , I'm specifically very interested in Indy and have done a lot of research, including a flight to Indy in April.
Fingers crossed that we'll be able to get some things in motion very soon here with some partners.
@Tyler Jahnke lives in Oakland and is a great resource for all things Indy as well.
I'm not too hip on things in the Peninsula anymore since my move to Concord but I can tell you Meetups have been the most valuable part of my engagement with Indy, the networking. Regardless of what market you are interested in, the fundamentals are similar and networking with others already involved has been invaluable to me.
I suggest the Meetup app and do a search for what's around you.
Bay Area Moguls is one you'll find in there and they do a GREAT job of putting together quality meetups that are almost always free. They often fill up quick so if you want a seat, get there early or else you may be standing.
There's a few lined up for this week on Notes with Martin Saenz who has written a well received book on the topic.
Let me know if I can help you with anything.
Thanks for the shoutout @Ernesto Hernandez !
@Gorden Lopes - I bought my first out of state property 2016....definitely not the smoothest investment...but I learned a TON along the way about the market, property management, specific neighborhoods (in Indy), analyzing deals, taxes, insurance, etc. I'm still very new to it all in the grand scheme of things, but don't hesitate to reach out with any questions!
I'd also recommend joining Ernesto's Facebook group as well!
Hi Gorden. My recommendations for out of state investing are Georgia and Florida. They are attracting a lot of investors from California, because you can find reasonably priced properties in nice communities with good school districts. The most important part is that they will cash flow much better than California real estate.
Hi @Gorden Lopes ,
I'd be interested in a meetup or general networking as well. I'm located in SF and am looking to make my first out-of-state investment in a buy and hold rental property. I've been looking at Austin, TX and Nashville, TN, but may start looking at other locations listed in this thread as well.
Hi @Franklin Bird ,
I was looking into Austin and Nashville a couple of years ago. I came close, but didn't actually buy in either market. The deterrent for me in Austin was the taxes that many out-of-state investors typically don't see coming. As they say, everything is bigger in Texas, particularly the taxes! Nashville seemed like a decent market, though it has been some time since I looked into it.
@Akash Jain : Hi Akash! Happy to meet folks from bay area who are investing out of state. If you are game then we can meet over coffee or beer and talk more about our investing journeys and can share what worked and what not!
@Franklin Bird : Hey buddy! Based on the replies I see we have 3-4 folks in bay area, we can try to have a meet up. Let me PM you guys.
@Eddie LeGrand-Sawyer : Thanks for that input, any particular cities in Georgia and Florida that you particularly like? I like Georgia but could not zoom in on any particular city, Atlanta train has already left and many other suburbs are also not having good cash flow, would love to hear from you on which cities you like.
I have 1 rental here in Oregon but am looking to start investing in Indiana as well. Would love to compare notes.