First time investment stories

[Nakia Addison]

I’d love to hear your stories of starting out in real estate. What were your initial experiences in real estate investing like? Share the highs, the lows, and the valuable lessons you’ve gathered along the way. Let’s inspire and support with story sharing in real estate investing.

[Mike Paolucci]

Hi @Nakia Addison I started off by investing out of state. I grew up in San Francisco, CA where the numbers and landlord laws just didn't make sense to me. Virtually every property would have been running a negative for years with no guarantee that it would become cashflow positive. 

I ultimately chose to invest out of state in Ohio where numbers made sense, properties were cashflow positive from day one and I had some extra walking around money every month once the properties were stabilized. As time went on, I was able to buy more properties and all have appreciated over the years + rents have gradually increased. 

The key is making sure you have the right teams locally (property manager, investor focused agent, lender & contractors). 

House hacking is also a great way to get started as well. Always recommend that.