Newbie, starting in the next 3 months, please review my plan

[Ahmed Milo]

Hi everyone, this is my first post, many more to come. I am looking to invest out of state. These are the steps I think I should take. Any advice, recommendations, or opinions will be helpful. I am looking for something around 100k-150k or below, solely based on 20-30k cash. Ideally, I want to buy and hold for cashflow but I will also like to invest in markets that appreciate.

1. Start an LLC - I read that starting an LLC in New Mexico provides anonymity and no annual fees, is it worth considering an LLC in New Mexico instead of Florida?

2- Find property managers, agents, and wholesalers - my plan is to search in Google and choose based on reviews and conversations with them, and also find recommendations in this Forum. If you have anyone you recommend in the cities below or another city you think I should consider please let me know.   

3- Find lenders. 

4- Find a property  

Please let me know if I am missing something or if there is something else to consider. 

These are the cities I am considering (Please recommend property managers, agents, and wholesalers): 

1- Greensboro, NC

2- Detroit, MI

3- Cleveland, Ohio

4- Augusta, GA 

Thanks everyone!

[Preston Dean]

Quote from @Ahmed Milo:

Hi everyone, this is my first post, many more to come. I am looking to invest out of state. These are the steps I think I should take. Any advice, recommendations, or opinions will be helpful. I am looking for something around 100k-150k or below, solely based on 20-30k cash. Ideally, I want to buy and hold for cashflow but I will also like to invest in markets that appreciate.

1. Start an LLC - I read that starting an LLC in New Mexico provides anonymity and no annual fees, is it worth considering an LLC in New Mexico instead of Florida?

2- Find property managers, agents, and wholesalers - my plan is to search in Google and choose based on reviews and conversations with them, and also find recommendations in this Forum. If you have anyone you recommend in the cities below or another city you think I should consider please let me know.   

3- Find lenders. 

4- Find a property  

Please let me know if I am missing something or if there is something else to consider. 

These are the cities I am considering (Please recommend property managers, agents, and wholesalers): 

1- Greensboro, NC

2- Detroit, MI

3- Cleveland, Ohio

4- Augusta, GA 

Thanks everyone!

 HI @ahmed

You are on the right track!

Brandon Turner from the Bigger Pockets podcast talks about this. And having your CORE 4

1. Deal Finder - Either wholesaler, realtor, maybe a FSBO

2. Finance - Either hard money, private money, or traditional bank financing

3. Contractor - A solid contractor can make or break your real estate investment journey

4. Property Manager - A fantastic PM can save you a world of headache and trouble. 

For you second question, since you are on bigger pockets I know you understand real estate investing to an extent. For your agent, don't do a google search, go to the top of this page where it says FIND AN AGENT and begin to fill out a questionnaire and you'll be able to vet 3-5 different agents to work with for free. And for the PM question, call your local RE brokerage and ask if they have any active brokers who are property managers. This is your best bet. Better than google for sure

Regards from Fort Worth, Texas