New Out of State Investor Looking for Guidance

[James Tasso]

Hello Everyone!

My name is James and I am a real estate agent in southern California. I have been in real estate since 2013. I feel pretty knowledgeable in the real estate area and finally decided to get into investing! I work as a school teacher and decided to focus on out-of-state properties because, to be honest, it is very hard to find a deal in SoCal right now. I have lined up some personal lending (the family with who I will pay simple interest on the loans) and have done a lot of other research on financing, creative financing, and the BRRRR strategy. I don't have a property that I can utilize a HELOC on. I will rely on HML, private lending, and my cash to acquire properties. I wanted to share where I want to go and some issues I already see moving forward. If you have any suggestions or comments please toss them my way! I want to utilize the BRRRR method to buy more inexpensive rentals in the midwest, specifically Oklahoma City. I chose this as a hub because of the proximity to other metros (DFW, Little Rock, Tulsa, Springfield, KC), is this a decent place to start?

If you are local to the OKC area and wouldn't mind connecting I would appreciate that. Heck, if you are in the midwest and can connect, chat, mentor, that would be super awesome!

If you know hard money lenders in the midwest that keep it simple and have worked with deals under 75k, I would appreciate it! I have found that there are quite a few HML that say they will go down to 50k, but actually want 75k mins.

It would be nice to hear about any small price deals you have done on flips and LTR as well! 

If you have any questions about the CA market, I would love to share ideas with you as well! I am pretty knowledgeable specifically in the inland empire area of so cal. 

Have a good day!