All Forum Posts by: William Richardson

All,

First off, as a first time poster, I want to thank everyone for their time and advice. It's pretty amazing to see all the care and generous information that everyone shares on this website. I look forward to connecting with you guys as I dig deeper in this Real Estate world.

@Derek Dombeck

As of now, I plan on putting 20%-25% down on OOS turnkey properties, but now that you mention the idea of Private Lending I will definitely look deeper into this. Thanks!

@Mike Alt

Honestly, I haven't gotten as far as choosing a market. I'm still fairly new to the REI world and currently finishing up Brandon Turner's book on Rental Property Investing. I'm still learning the techniques and basics of the game before I narrow down to specific markets, but I would love to get some insight on some great markets to check out if you have any suggestions.

@Antoine Martel

I'll be in contact with you soon for some details! Thanks for the helping hand.

@Ali Boone

Funny thing, during my reading I often times will search something on Biggerpockets and your posts constantly pop up around the Turnkey discussions. Thanks for the insight and I look would love to get some more information on your strategy. 

@Tom Ott

Thanks for the links! Solid Info.

@Lane Kawaoka

Thanks for the advice Lane, I'll do some research on syndication. My initial goal was to get 10 mortgages to accumulate as many properties early on, but Ill definitely look into this. I'm still trying to carve out a plan, everything is pretty new to me.

@James Wise

Thanks for the tips James!

@Chirag Shah

No Problem Chirag, thanks for chiming in! I am just excited to see the amount of people who are willing to help us newbies out, I look forward to connecting.

@Joseph M.

Looks like I've found another book to take a look at, thanks for the suggestion. 

@Larry Fried

Thanks for the advice Larry, cheers on the OOS success with BRRRR. At this point, I'll likely start with something safer OOS and possibly explore the idea of OOS BRRRR once im more comfortable with a market that's not in my backyard.

@Alexander Felice

Cheers on the successful OOS BRRRR, im glad to hear that some poeple including yourself are having such a good experience out of state. What was your timeline on developing your team and how did you go about vetting them?

Hello All,

I have a few questions regarding scaling up in an out of state location. I currently reside in Long beach, California and in that past months have came to the realization that finding cash flowing properties is much easier in an out-of-state location. 

Although Turnkey doesn't always get the best rep around the REI world, it seems to be a perfect fit for me due to my career demanding 55-60 hour work weeks, so I can't be hands on 24/7. The downfall to this is the slow scaling process that I would have, only 1 property a year will be attainable, unless I'm completely missing something.

My question is if anyone utilizes an out-of-state BRRRR method, I've searched around for this answer and most people say OOS BRRRR isn't a great idea, but the BRRRR method allows for rapid scaling compared to Turnkey.

I appreciate all the advice, 

Will