Newbie Taking Action Out of State - Buy & Hold

[Andrew Kougl]

Hello BP Community!

First post here and I'm super excited to connect with like-minded individuals. I am interested in REI from a Buy & Hold perspective focused on cash flow. I live in San Diego and it's crazy expensive here so have to look out of state for my first investment property (already own a house in SD).

I'm specifically thinking 3/2 SFH in a B class neighborhood would be the ideal scenario to get stable tenants and good cash flow, primarily in the Midwest. Looking specifically at $60k-$90k properties in Indianapolis and the suburbs of Chicago. I know both areas can be hit and miss and you need to know the area which is why I plan to travel there in a month to check both out. Are there other areas in this range that are large metros that cash flow?

I want to make the best use of my time so would love to be pointed in the right direction when it comes to Real Estate Agents, Property Managers, local lenders and General Contractors (hoping to find something fairly turnkey...paint, carpet, updating appliances). Also considering the possibility of Turnkey providers if there are any that service those markets.

Thanks for reading and appreciate the help!

Andrew

[Jay Bhatt]

@Andrew Kougl

I was in the same boat as you last year. I did exactly the same. Visited the markets I was interested in and met the turnkey providers. Ultimately i decided to go on my own in NW indiana.

As couple of people have mentioned, if you decide to go turnkey route in NW indiana you won't find better product and team than @Sharad M.

If you decide to visit NWI, PM me and I can send you contact details of local brokers, GC , Property Managers.

Good luck!