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Updated over 3 years ago on . Most recent reply
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New investor struggling to determine where to invest
Hey everyone. I'm a brand new investor... just started the learning process. My names, Jacob and I'm from Cali. Looking to get into the real-estate business. I've been reading a ton, listening to pod casts, watching videos. Just trying to take in as much as possible.
I've been learning a lot about the brrrr method, reading the brrrr book... and I like what I'm learning. The thing I'm struggling with is figuring out how to determine where I want to start investing. I definitely don't want to invest in California... I'd much rather go out if state. My question is, when looking at different cities, what information is important? What set of numbers will make an area good verses an area to avoid? And where do you get those numbers. I've been trying to find videos or blogs or pod casts on it and haven't been able to find much. Maybe I'm not looking hard enough. But if someone could point me in the right direction, I'd really appreciate it. I dont want to just throw a dart onto the map and then suffer the consequences later. I'm way to over analytical and would like to compare as much information as possible before I start looking at properties.
Thanks in advance for any advice!
Most Popular Reply
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@Jacob Ellsworth there are tools like Propstream and Privy that can help you analyze the numbers for OOS deals. As a fellow CA investor, I definitely understand the struggle of price points being way out of line for first-time investors. Kudos to you for not giving up and instead looking for a market that fits your budget.
To @Jaron Walling's point, you'll need boots on the ground to see success with BRRRR. That includes a reliable agent/wholesaler to find deals, contractor to renovate the property, lenders to finance the initial purchase and cash out refi, and property manager to manage tenants. All are possible, BP and Google are your best friends to find them. Good luck!