All Forum Posts by: Joseph Schweizer

Hi @Matthew Seyoum!

Things are going well. The property is meeting my expectations and estimates from when I decided to purchase. The PM has been very helpful with any issues/concerns either from myself or the tenant and has been prompt in answering. We did go through the turnover process once and that process was seamless as well and the PM was able to find a quality tenant in a reasonable time frame. I think it was a little bit over 30 days to get the new tenant selected, the property turned and the new tenant in. 

Overall I am still happy with my purchase.

Hi @Cesar Santana!

I went OOS for my first investment and I had a great experience (see post below). The key will be your due diligence on the neighborhood, property, and anybody you work with (agent, lender, PM, etc.).

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal

Happy to discuss more if you have any questions!

Hi @Leo Hoffman!

I did it for my first property (see post below). Happy to share more if you have any specific questions.

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal

Best Wishes!

HI @Tim Cavanagh!

If you search all of those turnkey providers in the BP forums, you will find countless posts with this same question. I would start there to get a better feel for each one.

I personally went with Rent to Retirement and had a great experience (see post below).

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal

Happy to share more or answer any questions you may have about my experience!

Best,

Joe

Hi @Brandon Ficklin!

I do not have new build experience of my own right now, but @Zach Lemaster and his team do.

I worked with Zach and his team to buy my first investment property and a had a great experience (see post below). Happy to share more.

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal

Reach out and they will be able to answer all your questions about New Build investing!

Best Wishes!

Hi @Kristin Riker!

House hacking is a great strategy. I wish I knew about it before buying my first (current) primary residence. I would definitely keep looking for an opportunity to house hack if you can find a property you would like to live in and that would work as a rental when you moved out. As Abel mentioned, you don't want this property to be in the red when you move out. 

If you do decide going OOS for an investment is still something you want to pursue, I made my first investment out of state (see post below) and would be happy to discuss more!

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal

Best Wishes!

Hi @Damian Callaghan!

I was in a similar situation to you. I wanted to get started, but the numbers in my market were not looking promising. I decided to get started OOS where the numbers better fit my criteria. I have learned a lot from making this investment and even if I wanted to make my next investment closer to home, the experience I have gained from making this investment is invaluable. My post below describes my first investment. Happy to discuss more!

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal

Best Wishes!

Hi @Timothy Jamar!

Due diligence will be key. Make sure you understand the market, how to analyze properties, how to vet PMs, get third party inspections, etc.. If the company has an existing tenant in place, ask for rent payment history and for tenant screening criteria. 

I purchased my first property turnkey, out of state. Post below describes the purchase. Feel free to reach out if you have any questions about my experience!

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal

Best Wishes!

Hi @David Travieso!

You need to come up with what you feel is an acceptable return for your time and money and then learn the strategy(ies) that will allow for those returns. If the strategies require skillsets you do not currently have, you will need to learn those skills or build a trustworthy team to fill those roles. 

I had similar concerns to you, so I decided to start with a turnkey property and it has helped me learn a lot about buying and owning a rental property. That knowledge is invaluable as I continue my investing journey and decide what my next steps are. 

Post below describes my first purchase.

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal

Best Wishes!

Hi @Tom Ramirez!

I have a property in Kansas City, MO that is performing well for me. Happy to share more about it! Post below is from when I first purchased the property.

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal