How long should it take?

Question

Hi everyone! First time poster and brand new to real estate! I am currently a kindergarten teacher working towards financial independence.

I was just curious, about how long should it generally take to find a "good buy" that is worth fixing up?

Additionally, I'm curious, how successful are long distance investments right now?

Thanks in advance! I can't wait to hear from everyone!

Chris

James Hamling · Answer

@Christopher Ramirez Babinski the first thing your doing wrong is just randomly looking all over the country.

Picture it this way, a person wants to be a grade 5 teacher and asks what do you do first, is it attendance, or do they start with lecture or this or that......    What do you tell them? You correct them and say none of that. They start by developing the lesson planner way before the 1st day of class, right.

EXACTLY.

You forgot to develop your lesson planner first.

To do this, 2nd step is to peg your top 3 locations to operate/search in.

Notice I said 2nd. Because 1st step we need to get some parameters so you have any way to be able to define, target and choose those top 3.

Step 1 is define the box your working with.

Now when you can be involved, as in close to you, doing various iterations of flips is viable and great but I can tell you doing it remote is a vastly different and near impossible beast. That's just the reality of it.

So define what strategy of investment real estate is viable for you. Is it LT rentals. Is it more complex strategies like build for C4D. You gotta home in on a primary strategy and at most a secondary, no more, no exceptions.

Next we filter by budget. This right here is going to narrow that lens a whole lot.

And lastly we have risk aversion. How ready to gamble are ya? Are you the dare devil type or are you "safety sally" looking for sure bet's? Know your personality type, mis-matches make even the best deal a living hell.     And this goes for both market risk and asset risk. A, B, C class etc.

Now we have some parameters set that we can do a baseline search for what markets across the US fit all those, and which don't.

From there, it's a matter of research and refine, refine, refine until you have a top 3.

No, not top 3 people pander to you, top 3 you got yourself from your work of refining.

Next, pack your bags your taking a trip!

Yes, this is 1,000% necessary because you will never know like the knowing you get from actually walking the streets, driving the blocks, talking with people and seeing for yourself.

Once you complete these steps, you'll be ready to start the action sequence of things. Developing your exact in-market buy-box, operational plan, collecting resources etc..

And if all this sounds like misery or just not worth doing, ok, you are not an OOS investor type yet. And then the answer is keeping it local and sorting how to make the local work better.

Because even buying turn-key you still need to follow these steps, your just basically done once make the market tours vs being at the starting line.

Rick Albert · Answer

Depends on how you define a "good buy." For example, in Los Angeles, part of a "good buy" could be location because we make it up on the appreciation down the line.

It also depends on other factors like financing versus cash, SFR versus MFU, how long you intend to hold the property, etc.

I would think about your goals and go from there.

Christopher Ramirez Babinski · Answer

Oh wow, that is awesome! Thank you for that information @Melissa Justice. I am absolutely interested in doing long distance investing, but am in the middle of a project at the moment. As for my full time job, I'm not sure that I will continue to do this but at the moment it's my current capital that I am using to work on these projects. As soon as I can figure out how to get more capital through investing and I can get efficient with managing projects, I definitely intend to leave my profession to pursue full-time investing. That being said, do you think that turnkey property investment is lucrative? Something that is appealing to me about rehabbing a home is the built up equity to turnover into another investment. Is that possible with turnkey investment properties?

Thank you for taking the time to post such a thought out reply, it means so much to me! Chris

Melissa Justice · Answer

@Christopher Ramirez Babinski,

Hi and welcome to the community! So exciting to see another educator stepping into the world of real estate investing. It’s such a powerful path toward financial independence, especially with your long-term mindset.To your first question - how long it takes to find a “good buy” to fix up - it really depends on your strategy, budget, and local market conditions. For value-add or fix-and-flip properties, it can take weeks or even months of searching, especially if you're doing it remotely and need boots on the ground or a reliable team in place. If you’re managing a full-time job (like teaching!), that timeline can stretch even longer.That’s actually one of the reasons a lot of newer (and busy!) investors are leaning into turnkey rentals - fully rehabbed or new constructed properties in strong cash-flowing markets, often with tenants and property management already in place. This approach skips the renovation phase entirely and lets you start building passive income right away.As for long-distance investing: it's very doable right now and more common than ever thanks to better tech, transparent property management companies, and access to solid teams on the ground. Markets in the Midwest and Southeast, like parts of Alabama, Missouri, Indiana, and Florida, are especially popular for their affordability, landlord-friendly laws, and steady rental demand. Many investors build entire portfolios in these regions without ever seeing the homes in person!If you're curious about how to get started with turnkey options or want to compare markets, feel free to reach out or message me. Happy to help however I can!Best of luck,

Melissa

Christopher Ramirez Babinski · Answer

Awesome! That's good to know and very helpful information! Thanks for taking the time to respond! Have you done long distance investing before? @Kerlous Tadres

Kerlous Tadres · Answer

I have personally not. But, I do know multiple people who have been successful with investing out of state by setting up their CORE 4 by getting a great realtor, contractor, property manager, and attorney!

Kerlous Tadres · Answer

Hi Chris, welcome to real estate! Finding a "good buy" depends on your market and criteria. In competitive areas, it could take a few months to find the right property, but focusing on properties with the potential for cosmetic updates rather than major fixes can speed things up. As for long-distance investments, they can be successful if you have a reliable team in place property managers, contractors, and local experts. Research markets with good rental demand and steady growth, and make sure the numbers work for your investment strategy. With the right team and systems, long-distance investing can definitely pay off.

Chris Barrett · Answer

It can definitely take quite a bit of time depending on where you are located. I've looked at hundreds of properties and probably only 1% end up being a deal that I buy.

Jimmy Lieu · Answer

Hey Chris, welcome to BP and love that you’re getting into real estate early—it’s a great move toward financial independence, especially with your mindset. In terms of timing, finding a “good buy” really depends on your market, criteria, and how active you are in your search. For someone just getting started, it might take a few months to really learn how to analyze deals, get comfortable with numbers, and build your team (especially if you're considering fixer-uppers). Don’t rush it—take the time to understand what a “good” deal looks like for your goals. On the long-distance investing side, it’s definitely doable right now and a lot of folks are finding success, especially in cash-flowing markets that are still affordable. I moved from Portland, Oregon to Columbus, Ohio in 2020 and now have 10+ rentals here, and I’ve seen tons of out-of-state investors build solid portfolios here too. Columbus is a great example of a market that’s still affordable with deals in the $120K–180K range that can hit the 1% rule and cash flow from day one. Plus, the job growth and population growth is strong, and companies like Intel, Amazon, Google, and Honda are investing heavily here, so there’s great long-term potential. With the right local team (agent, contractor, property manager), long-distance investing is absolutely doable—even for first-timers. Happy to connect and answer any questions you have!

Melissa Justice · Answer

Hey Chris, DM me and we can chat more :-) Thanks!

How long should it take?

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