Building the right team

[Steven Olivas]

Hello, I am new to Bigger Pockets and seeking guidance with my first real estate investment. I think now would be a good time for me to invest because I don't have any debt at the moment, and a decent amount of money saved up. Im looking for help with the next steps and figuring out all of the details needed to make it happen.

I would like to close on a deal by the end of this year, not sure of the exact market I'd like to invest in mainly because I've had trouble finding listings on the market. But, currently looking around the Midwest area’s where I could do multifamily rentals. I know it's a lot of work since I live in California and harder to achieve but I think the potential could definitely make it worth while, especially with the right team (investment real estate agent, property management etc.

Conclusion, I've done some research but definitely open to any opinions and suggestions from people with more experience. Any tips or advice for what exactly I should be looking into or staying away from would be great. Additionally, if there is anyone in or around the Midwest areas that has any state specific advice or contacts, I would love to get in touch to expand my network and build a solid team.

[Evan Hopple]

Quote from @Steven Olivas:

Hello, I am new to Bigger Pockets and seeking guidance with my first real estate investment. I think now would be a good time for me to invest because I don't have any debt at the moment, and a decent amount of money saved up. Im looking for help with the next steps and figuring out all of the details needed to make it happen.

I would like to close on a deal by the end of this year, not sure of the exact market I'd like to invest in mainly because I've had trouble finding listings on the market. But, currently looking around the Midwest area’s where I could do multifamily rentals. I know it's a lot of work since I live in California and harder to achieve but I think the potential could definitely make it worth while, especially with the right team (investment real estate agent, property management etc.

Conclusion, I've done some research but definitely open to any opinions and suggestions from people with more experience. Any tips or advice for what exactly I should be looking into or staying away from would be great. Additionally, if there is anyone in or around the Midwest areas that has any state specific advice or contacts, I would love to get in touch to expand my network and build a solid team.

Welcome to BP Steven! Absolutely right, building a team you can trust is the key to successfully investing out of state. You'll hear quite a bit about the OH markets in the forums, and I think for good reason. The state has a great deal of diversity between each of the major markets. Whether you're looking for cashflow, appreciation or a mix of both - OH has something to offer for each asset class. 

Happy to help!