New to Bigger Pockets, and living near the Seattle area.

[Jason Welter]

Hello Everyone,

About myself

Just getting started with this real estate adventure. 

I've begun to read a few books, went to a few seminars, and I think I'm about ready to become addicted. 

Currently, me and my wife own a condo we used to live in and we're renting it out right now making a bit over our mortgage, I never thought before that doing that could be a real revenue generator and help us get away from the daily grind, hence how I ended up here. 

I've been trying to learn all I can on my own and this seems like a great place to learn even more. 

What I want to learn

I've been really curious about Buy and Hold out of state, mainly because looking at the Seattle market right now I haven't seen too many things that give a good enough margin to pull the trigger on. 

I also want to be like a sponge right now and soak up all I can, I'm trying to focus on smaller 1-2 bedroom units under 250, I feel like that is a easy place to start, but I would love to learn about the prospect of multi family units. 

Well I will try not to ramble on more, just leave everyone on a high note......La La La Laaaaa ♪ ♪ ♪ ♪ ♪

Okay bad joke. 

Talk to you all soon with luck :) 

[Ted Klein]

@Jason Welter

Welcome to BP. You have came to the right place to learn about REI. I have previously owned rental property and am just now getting back into it and am looking to go out of state as well.

One of the first things you need to do is decide on a few areas that you like or where you may know people then compare the economic indicators for each area, high yield, job growth, population growth, low unemployment etc... Then you want to look at the state of the market in these desired areas and try to find up and coming areas that are on the rise for appreciation, being sure that the market is just starting to rise and is not already at a peak or in a decline. Looking at these items should help narrow down an area that has potential.

Next, I'd recommend to search out areas with good schools and low crime rates. After that try finding colleagues in the area of interest to start building a local team to help you along the way. After that, just start making offers. I have been doing this and have made two offers, but have not yet landed a deal. Just need to keep looking and be sure that the numbers work for you.