Tired of San Francisco and Oakland rental

[George Chung]

Purchased a 6 UNIT building two blocks away from lake Merritt for $1.56M. Put down 780k and now I am cash flowing at barley $2000/month net. I would love to invest in out of state but have no connections.

[Todd Dexheimer]

@George Chung I invest out of state and had no connections. Build relationships with people locally. Here is what I would do: 

1. Research markets that would work for your investing goals. It's not about the cheapest market out there, but the best market to fit your criteria. some tips:

https://www.biggerpockets.com/blogs/10145/66160-ho...

https://www.biggerpockets.com/blogs/10145/73999-ou...

https://www.biggerpockets.com/blogs/10145/74387-ke...

2. Once you identify a market or 2 then start building relationships over the phone and computer. The objective is to start building your team and also ensuring yourself that the deals you're looking for can be found in the market. 

https://www.biggerpockets.com/blogs/10145/70795-ho...

3. Fly out to the market of markets and meet the brokers, property managers, lenders, attorneys, appraisers, etc. I would also attend a local meet up if possible and post of BP that you'll be in town and would like to meet some investors

4. Make offers

5. Sell your property that you just bought that is making you 3% on a good day 

6. Buy something that will actually make money

If this is too much work or doesn't fit you, then I would skip to #5 and sell that property. Take your money and invest it in a syndication, NNN lease, REIT or the stock market.