All Forum Posts by: Joseph Schweizer

Hi @Melany Longoria!

I actually recently (October) closed on my first investment property! It was an OOS, turnkey rental. The link below shares my experience obtaining that property! Feel free to reach out to me if you have any specific questions about my experience or if you have any other questions I may be able to answer!

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

Best of luck on your journey!

Joe

Hi @Zackary Voss!

I actually just started my real estate investing journey this year (closed on my first property in October)! The link below has some more details about my first deal and the team I worked with. If you have any specific questions about my journey and how I got to this point, feel free to reach out or connect with me!

I wish you the best of luck on your journey!

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

Joe

@Caleb Brown

It is in the Blue Hills section!

@Christopher Rodriguez

Yes, The property has a tenant and I have a property manager in the area. I factored in property management when I did my calculations.

Hi @Christopher Rodriguez!

Great job on reaching all of these goals!

I actually recently began my real estate investing journey (see linked post)! I am not sure where you are located and what kind of properties you are looking for but if you have any questions for me about my journey or anything in the post link below, feel free to reach out!

Best of luck on your journey!

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

@Account Closed

Being an OOS definitely has its complexities. One thing I have heard/read a million times about investing out of state is making sure you have the right team in place. I did extensive research into what questions I should be asking, what information I needed to know, etc.. I also made sure I did as much research as I could about anyone I was considering working with. By the time I decided to move forward with a property, I felt very comfortable about working with Zach and his team. As the process moved along, any questions I had were answered promptly, if I needed to have a phone call Zach was available for a phone call, I had a weekly meeting during the whole purchasing process with the transaction coordinator. All of this made my level of comfort even higher that I was working with a great team. 

For this first property, I can't really think of anything specific I would have done differently. It was definitely a learning process, but by the time I closed on the property I felt very comfortable with my decision and where I was at. If there is anything I learn going forward that changes that, I will definitely let you know. 

Moving forward I am coming with a plan for how to save capital for my next property. I work full-time outside real estate so I plan on saving money from my W2 job. I am also going to talk to more of my family and friends to see if I could potentially work out a partnership. I definitely like the turnkey process and working with Zach, so I will being looking to work with him for my next property. 

@Nate Patrick

When you sign up for Pro membership, you a matched with a group of other Pro members for a masterminds group. I may have been lucky, but my group is fantastic. There is four of us who get on a zoom call every week (for the most part, schedules conflict sometimes) and we discuss new things we have learned, how our investments are going, we discuss issues/concerns, and then we identify goals to complete by the next meeting. My group has been very beneficial to me. I do not know if this will be every group, but mine has been invaluable for me.

Hi @Joe Gallo!

I am a new investor as well so I am not the most experienced. However, my first deal was an out of state, turnkey property.  I felt like turnkey was a good route for me as I work full-time outside of real estate. My post below is a review of my experience obtaining my first rental.

Let me know if you have any more questions about my experience or if I can help in any other way!

Good luck on your journey!

https://www.biggerpockets.com/...

Hi @Nate Patrick!

Welcome to BP! I am fairly new to BP myself (joined in May 2020). I made my first investment purchase this past October!

One of the key factors in getting to the point of actual making an investment was my Masterminds group I was connected with after becoming a BP Pro member. We meet weekly and discuss what we are learning and how our journeys are going!

For my first property, I went the turnkey route as I felt like this was my best option while working full-time as an engineer.

If you have any specific questions about my experience, I would love to talk more!

Good luck on your journey!

Hi @Jimmy Barrett!

I have recently begun my real estate investing journey. I closed on my first rental in October (see linked post below). 

I joined BiggerPockets as a pro member back in May after watching a free webinar. One of the keys to getting to the point of actually going through with making an investment was my Masterminds group. They really gave me the confidence that I was making good decisions and I had enough knowledge to begin investing. 

I went the turnkey route as I felt like this was a good route for me to get started while working full-time outside of real estate.

Let me know if you like to hear more about my experience!

Good luck on your journey!

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