All Forum Posts by: Tom Ott

Hi everyone! First post, yay! I'm completely new to BP and REI and have been trying to learn as much as possible. I live in the SF bay area (San Mateo), and my reading over the last few months seems to confirm that investing in CA seems like such a difficult endeavor (high costs of entry, difficult to cash flow properties, etc)... especially for a newbie like me.

I wanted to see if anyone has had any experience with turnkey properties out of state. If so, what specific turnkey companies would you recommend? Are there major pitfalls where I should avoid these completely? How do I trust or proceed with these deals when I don't have connections outside of CA?

This stuff is daunting to say the least, so I appreciate any resources, words of advice, or recommendations. Thanks!

Hi everybody,

I'm happy to be a part of the amazing community. The knowledge I received from reading posts and comments are invaluable and are helping me build the system I need to financial freedom.

My name is Yuval and I'm 32-years old rental property investor from Tel-Aviv, Israel. I have decided to invest out of my country due to regulations on investors and price affiliation that are making the journey to financial freedom much much slower (though not impossible). The main issues I deal with when trying to invest in the US are financing and time differences causing me to work a "second shift" restarting my day at 2 PM.

I own 3 rental properties back home and truly appreciate the power of passive income, equity buildup through mortgage amortization, and price affiliation. It helped me reach 40-50% of my passive income goal. I'm looking for connections in Cleveland Ohio and would like to start from a solid, cash deal SF rental property.

I have read a lot, heard dozens of BP podcasts, and countless posts, and I feel ready to jump into my first deal in the US. Looking forward to this exciting journey and trying to enjoy the way to the finish line as well as the crossing itself.

Hi There,

My name is Summer and I am a TRUE newbie in San Diego. I've been a homeowner 3 times now, but never an investor so to speak. My husband and I are looking to start Real Estate investing, which can be challenging in a market like San Diego. While we've saved up, we don't have a ton of $ to drop on a property. We're looking at starting small with something like a condo to produce + cash flow and work our way up to multi-family units. Right now, we're thinking a buy & hold might be our best option as long as it brings some slight + cash flow and hold out for a little appreciation and buy down on mortgage. There's also areas outside of San Diego, but it seems like everything in So Cal is expensive. I would love to BRRRR, but right now in So Cal, that seems difficult. I recently listened to a BiggerPockets podcast, and it mentions "what bottlenecks you?" For us, its enough $ to get in the game. Hard money is hard to come buy as a first time investor in this economy as I understand it as well. Not against going out of state (within 4-6 hours drive time) to find a + cash flow or BRRRR. Any insight to my thought process would be GREATLY appreciated. Take care everyone.

Hello, we are looking to invest in Cleveland area and potentially have found couple of interesting properties. We are keen to invest in turnkey rentals and also need a team to mange our property. If you have any recommendations, please send us. Thank you very much 😊

The title essentially sums up the question. I'm sure there are many out there who live in markets that have a high financial barrier to entry and have thought about investing elsewhere. 

As a first time investor, I'd love to hear from folks who have done this. I'd like to know how you made it happen and if you'd recommend it to someone else starting out. 

I live in the LA market with no option but to live in a very expensive area (forced to live close to the hospital!)

Looking forward to hearing from you.

MT

Hello guys,

This is my first time posting in this forum even though I've been following the site for about 2 years now. I'm living in the Silicon Valley and about to graduate college with an upcoming job as a Financial Analyst for a tech company. But I've started looking into investing in real estate after getting hit by the BiggerPockets podcasts on Youtube, which makes me want to pursue my financial freedom. I was brainstorming to have my first property out-of-state because it's impossible for a college grad to buy a house in the Silicon Valley right now. But I have enough savings for a down payment for a single-house rental property maybe in Texas (ranges from $150k-250k). I've listened to the podcast and figured that it would be tough to pursue an out-of-state property for my first deal. So I'd appreciate if I could have any advice as to what I can best handle the situation. Thank you!!!!

Hey there Bigger Pockets! 

Im a rookie investor, living in Souther California, looking to invest out of state.  I want to start looking for deals but I'm getting hung up on where to look. 

For out of state investors, what criteria did you use to pick your market? Ideally I would like a market that is cheap, so I do not have to put a lot of money down.  What should I search when looking for a market like this?  Should also include population growth, job diversification, landlord laws, etc? Having major analysis paralysis. 

Any advice would be appreciated.  Thanks for you help!
   

Hey BP -- My name's Ryan Espinosa. A little about myself: I've spent the last 7 years trying to make self-driving cars (and now commercial trucks) a reality. Some hobbies of mine include: cycling, climbing and playing/making music [soon to include real estate as well ;) ]. 

Shameful fact, I actually have been signed up as a member since 2018, but only now am coming around to attempt to be an active member here. I'm finally feeling ready to take the plunge and expand my investment portfolio to include real estate! My current thinking is to find something SFH turnkey in an out of state market, as most of my time is dedicated to my 9-5 & newborn son.

A couple quick questions I have:

-What are folks currently doing in terms of REI clubs/meetups? Going to an event would have been one of the first tasks for me, but given our current state, I'm wondering how folks are creatively continuing to meet/network.

-Fellow Bay Area residents, any recs for groups to join up with? Hoping to find some opportunities to connect with other local bay area investors and talk shop... success stories, mishaps & all..

Thanks for reading!

My current state is too expensive for me to buy right now. Other states like Ohio , Philadelphia, Baltimore and Delaware seems easier to get started in. Should I just up and move to start business ? Or figure out how to invest long distance.

This is Neel from Cleveland OH. I have been here since 2008 and since 2014 I was interested to invest in real estate. Finally, I'm about to take action to change my life. However, I just got FHA Approval from bank and I'm looking forward to buying 3 unite - 4 unite property in Cleveland, OH. Please feel free to share any advice to a new investor and if you are selling 3-4 unite property please feel free to contact me.

Thank You,

Neela Dhungel