Getting started in the Bay Area

[Eric Skinner]

Hello all,

I've been trying to get into real estate in my local market by using an FHA loan on a multi family property. The problem I am running into is either my wife and I aren't willing to live there for the 1 year requirement, they are asking way too much money (3% Cap rate), or we get out bid by the tune of 100K.

I've recently been introduced to OOS turnkey with companies like Mid South Home Buyers, Norada Real Estate, and Fig Fourplex. I am intrigued by the idea of turnkey investing but it seems almost too good to be true. 

I'd welcome you opinion on how I should get started real estate investing. Stick it out in my local market hoping to get lucky with an FHA offer? Or go OOS with a turnkey company? Maybe another idea I haven't considered yet?

Thanks for your time,

Eric