All Forum Posts by: Steve Kontos

@Frank Bonzai

Reading - The point of this is to see what type of investing excites you.  In real estate investing there are a vast array of avenues.  Find out which best suits you.

Attend events - Getting motivated doesn't just stop with reading.  Attending various events will help you socialize and meet individuals that can help you find what works best for you.  Speaking to others can help "de-fog" your mind so you can see where to go next.

Once you know what type of investing works for you, find those individuals who have successfully done it so you speak to them and "learn the ropes".  Educating yourself is crucial.

The goal is to broaden your eyes and mind.  It's through these activities that your goals will take shape.  

@Andy Ramdeen

As always on BP, a lot of great folks here gave you great answers!  Best of luck and keep in touch.

@Andy Ramdeen

When investing out of state it's about having a good system in place both here and the state you are investing in.  That system can only work with a good team.  With that being said, you need to build contacts in the area your interested in.

@Daniel Wolcott

In addition to the criteria mentioned, I try to look for areas that you see obvious changes, whether that be developments or new businesses.  Money being put into the areas and local government officials who are dedicated (and actually creating) change.  

@Reed Udy

The area should dictate that.  What type of tenant are you getting in these types of areas?  As @Todd Willhoite mentioned, what do nearby buildings have?

@Roberto Moita

Risky is a word defined in the eyes of the beholder.  What's more risky, investing or not investing at all and relying on my job to survive?  In real estate, the risk is always there whether it's next door or miles away.  In today's ever changing world, we are more equipped to handle situations located a lot further than just within your city.  It's about having a good team and systems in place.  Learning from those that have done this type of investing successfully helped me immensely when I first started out.  Best of luck and always remember we are all here to answer questions along the way!  

@Colleen Prescott

We live in 2018.  Proper systems and teams in place can accomplish quite a bit.  I've been investing out of state for almost 12 years now and I'm happy I did!

@Michinori Kaneko

Based on my experiences, multi-family is the better way to go based on several factors.  One of the more important ones are the cash flow and added value that can be provided that you normally don't get in singles.  Remember that in apartment complexes, the value is determined by the income it generates.  That allows us owners to come in and create ADDED value.  In singles, there are limitations.  I'm not going to go into other various reasons but let me know if I could be of any assistance.  Nice to see a fellow NYer making moves!

@Neha Groves

One thing I realized in my time investing is that getting creative can create growth...as long as it's proceeded with caution.  While I understand using debt to buy more assets sounds scary BUT if the wealthy leverage rather than using cash, why wouldn't you?  In the modern day, you can get really low rates so put the debt to good use and purchase assets that way.  For me personally, my success increased substantially once I stopped fearing debt.  

@Henry Murray

Attending local REI events helped me out when I first started. In regards to what value you bring to someone, there is always something but every individual has different types of needs so that can only be answered after talking to people first.