Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 4 years ago on . Most recent reply

Account Closed
  • Investor
  • Pittsburg, CA
23
Votes |
11
Posts

New help getting started as a first time out-of-state investor

Account Closed
  • Investor
  • Pittsburg, CA
Posted

Hi!

I've recently started my journey into real estate investing. I am interested in buy/hold SFH rentals and have around 30k in capital to invest. I'm looking to invest out of state because I live in the Bay Area, but I'm struggling figure out what a good market is. One thing that's been making me anxious is the uncertainty around the economy. I keep hearing that the housing market will start to decline next year which can hurt new, unseasoned investors.

Does it still make sense to start investing during this time? What are some markets that would be safer for a new investor like me to enter during this time period? How can I make sure I don't overextend myself if things go south?

Most Popular Reply

User Stats

893
Posts
1,135
Votes
Jon Crosby
  • Investor
  • Roseville, CA
1,135
Votes |
893
Posts
Jon Crosby
  • Investor
  • Roseville, CA
Replied

@Account Closed. Never try to time the market if possible, if it was that easy we would all be millionaires.  You need to buy right which in these times with high prices means finding really good deals (often by working with really good wholesalers).  Obviously you are not going to find anything for $30k down in the Bay Area, but you might still be able to find something in the Mid-west or Southeast regions as you would be looking for something in the $100k range so as not to over-leverage yourself.  

Checkout roofstock.com to start as they have already done a lot of the heavy lifting of finding markets that may have any chance at cash flowing...although you would likely be paying a premium if you purchase through them.  Additionally you can check out Norada Real Estate for turnkey options (roofstock is not necessarily turnkey) as once again, @Marco Santarelli and his crew has already vetted out the markets that would likely still cash flow and they have the added benefit of guiding you through your purchase process and getting you setup and running right away. 

Best of luck to you! 

Loading replies...