All Forum Posts by: Edward Golubiievskyi

Hello @Karrie Jeffries. Welcome to BP. I thought to share my experience as well. I feel like it is good to hear from people who have already passed the "green" stage, but people who are still "green" could probably understand you better. I am at the same stage as you, and while I don't own property yet, I am definitely moving towards that goal. I also live in crazy expensive market and looking at OOS investing. Here are some of my personal thoughts:  

1) Looks like you've already analyzed and narrowed down some markets. There is probably a reason why your brain picked up those areas (unless it was randomly selected or you heard something about those areas). So while you may think that you are still at "analysis paralysis", you might be at "ok, I found it" stage, but you still do analysis because you want to be sure-sure it is a right decision and to feel more secure. (and that's totally normal, I had that as well) 

2) Building the team. This is probably the the biggest one for OOS and I am currently at this stage. The interesting part, is that the market may actually navigate you through this. Let's say you are focusing on Area A, but you are struggling to build the team. On the other side, the property manager and realtor who are at the Area B are easier to reach and you feel like there is a connection there. Don't be afraid to pivot and go with those who you feel like will be a good match for you, your personality and your goals. Plus, as most "seasoned" investors say - you can find good deal at any market. 

3) @Nathan Murith once told me that, once you think about your 1st property as a learning tool (not as much as your wealth generating tool + you will still need more than one property in order to build wealth), It will be easier to make a mistake. Now, I am not suggesting to get into the deal which doesn't make sense. What I am saying is that once you accept that things may go wrong, it is at least little bit easier emotionally to make that move. Plus, I am sure everyone made mistakes and lost money at some point. As Kindra Hall mentioned on her BP podcast #565, you lose money but you get tons of experience and it is still less expensive than MBA :) - highly suggest that podcast btw.

Whatever you do, just keep doing it. Tell yourself to spend 5-10-15 min everyday and do something related to REI. I believe consistent actions will get you there, and don't forget to look back at the progress you did, that way you can see that you are actually moving.

Here are my thoughts and hope you find them helpful. Feel free to reach out. 

Thank you, Edward 

@Marcus Auerbach thank you again Marcus for your thoughts. If you happen to know PM or RE agent in Omaha, I would appreciate you sharing. Thanks again. 

Thank you for your input @Gino Passante and @Marcus Auerbach. What are the things you would suggest to look at while researching on property managers? I think, for example, online reviews won't give the whole picture, as most people write negative ones and specifics of Property Manager's job is kind of between profit oriented landlord and almost always complaining tenant :) Thank you

@Lee Yoder thank you Lee for your input! 

@Charles Clark, thank you for you response. I feel like all newcomers (for sure for myself :) ) spend a lot of time researching and analyzing data, building Excel files with formulas etc. I got a very important advice from a very helpful BP member that "once you start thinking about your 1st property as a learning tool and not as your future cash cow it will be easier for you. Now, granted you don't need to jump at any property, but with that mindset it might be easier at least to make that move. Thank you, Edward 

@Marcus Auerbach Thank you for your input Marcus. Your point does make sense. As I was analyzing those markets I came down to a question: "How would this data really effect my decision of investing or not?" - and I couldn't find an exact answer and decided to reach out to community. But I new there is something I am missing and it is exactly what you said - " it's not about the best city, it's about the city you know best and where you have the best team!". What would be your advise on finding and interviewing team members? Is there something you look at specifically? Thank you for your help Marcus. Edward 

Hello BP community, my name is Edward and I am starting out my REI journey. First of all, I wanted to say thank you to all founders of BP, contributors and those who actively supports everyone who needs it. Thank YOU!

Little bit about myself. I moved to US from Europe 8 years ago and got involved into RE by working and then helping to manage Home Staging company and being part time marketing manager for local RE Agent.

I live in OC, CA and while most people say opportunities could be find anywhere, I think that going out of state is more beneficial budget wise and learning wise.

I set my goals, have a plan and currently analyzing couple of markets:

- Omaha, NE

- Cincinnati OH

- Milwaukee WI

I wanted to ask more experienced investors about following:

- Market analysis: I decided to look into 1) Population Growth 2) Median Home Price 3) Median rent 4) Price/rent ratio 5) Quality of life 6) Economic Growth 7) Affordability. Are those criteria correct? What do you look at without getting very deep into details (like crime rates, commute time etc)

Thank you for all your help and response any feedback is greatly appreciated. Edward.