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New Member for House Flips
Good morning everyone,
My name is Rafael Macias, and I am new member to Bigger Pockets. I have interest in doing fix and flips in my area, but I would also like to phase into doing fix and flips in different states. I am not too sure on how to coordinate and properly manage a fix and flip project in a different state which is why I have joined this group to learn more about out of state fix/flips and see if it's a plausible option for me. My conviction for doing out of state fix/flips was mainly procured by the desire to have more options and opportunities available rather than having to be tied a more trying California market. Maybe it's a crazy idea? I'm not too sure yet, but I am excited and looking forward to chat with you all about these ideas. I must say that I am green to real estate investing as well, so any input that may be of help would be greatly appreciated. Thank you all for reading my post!
Rafael
Quote from @Rafael Macias-Gutierrez:
Good morning everyone,
My name is Rafael Macias, and I am new member to Bigger Pockets. I have interest in doing fix and flips in my area, but I would also like to phase into doing fix and flips in different states. I am not too sure on how to coordinate and properly manage a fix and flip project in a different state which is why I have joined this group to learn more about out of state fix/flips and see if it's a plausible option for me. My conviction for doing out of state fix/flips was mainly procured by the desire to have more options and opportunities available rather than having to be tied a more trying California market. Maybe it's a crazy idea? I'm not too sure yet, but I am excited and looking forward to chat with you all about these ideas. I must say that I am green to real estate investing as well, so any input that may be of help would be greatly appreciated. Thank you all for reading my post!
Rafael
Welcome, IMHO one of the most important aspects to residential remodeling and construction is to be onsite all the time, especially when new. Best of luck!
Quote from @Alan F.:
Quote from @Rafael Macias-Gutierrez:
Good morning everyone,
My name is Rafael Macias, and I am new member to Bigger Pockets. I have interest in doing fix and flips in my area, but I would also like to phase into doing fix and flips in different states. I am not too sure on how to coordinate and properly manage a fix and flip project in a different state which is why I have joined this group to learn more about out of state fix/flips and see if it's a plausible option for me. My conviction for doing out of state fix/flips was mainly procured by the desire to have more options and opportunities available rather than having to be tied a more trying California market. Maybe it's a crazy idea? I'm not too sure yet, but I am excited and looking forward to chat with you all about these ideas. I must say that I am green to real estate investing as well, so any input that may be of help would be greatly appreciated. Thank you all for reading my post!
Rafael
Welcome, IMHO one of the most important aspects to residential remodeling and construction is to be onsite all the time, especially when new. Best of luck!
Hi Alan,
Thank you for the input! I see that you're from California, but you stated that you do fix/flips in North Carolina. Are these long distance flips you're doing?
Quote from @Rafael Macias-Gutierrez:
Quote from @Alan F.:
Quote from @Rafael Macias-Gutierrez:
Good morning everyone,
My name is Rafael Macias, and I am new member to Bigger Pockets. I have interest in doing fix and flips in my area, but I would also like to phase into doing fix and flips in different states. I am not too sure on how to coordinate and properly manage a fix and flip project in a different state which is why I have joined this group to learn more about out of state fix/flips and see if it's a plausible option for me. My conviction for doing out of state fix/flips was mainly procured by the desire to have more options and opportunities available rather than having to be tied a more trying California market. Maybe it's a crazy idea? I'm not too sure yet, but I am excited and looking forward to chat with you all about these ideas. I must say that I am green to real estate investing as well, so any input that may be of help would be greatly appreciated. Thank you all for reading my post!
Rafael
Welcome, IMHO one of the most important aspects to residential remodeling and construction is to be onsite all the time, especially when new. Best of luck!
Hi Alan,
Thank you for the input! I see that you're from California, but you stated that you do fix/flips in North Carolina. Are these long distance flips you're doing?
Humm, just reread everything and don't see any mention of Nort Carolina. I'm in Northern California
Quote from @Alan F.:
Quote from @Rafael Macias-Gutierrez:
Quote from @Alan F.:
Quote from @Rafael Macias-Gutierrez:
Good morning everyone,
My name is Rafael Macias, and I am new member to Bigger Pockets. I have interest in doing fix and flips in my area, but I would also like to phase into doing fix and flips in different states. I am not too sure on how to coordinate and properly manage a fix and flip project in a different state which is why I have joined this group to learn more about out of state fix/flips and see if it's a plausible option for me. My conviction for doing out of state fix/flips was mainly procured by the desire to have more options and opportunities available rather than having to be tied a more trying California market. Maybe it's a crazy idea? I'm not too sure yet, but I am excited and looking forward to chat with you all about these ideas. I must say that I am green to real estate investing as well, so any input that may be of help would be greatly appreciated. Thank you all for reading my post!
Rafael
Welcome, IMHO one of the most important aspects to residential remodeling and construction is to be onsite all the time, especially when new. Best of luck!
Hi Alan,
Thank you for the input! I see that you're from California, but you stated that you do fix/flips in North Carolina. Are these long distance flips you're doing?
Humm, just reread everything and don't see any mention of Nort Carolina. I'm in Northern California
Oh, I must've misread. lol
#2 Tax, SDIRAs & Cost Segregation Contributor
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#2 Tax, SDIRAs & Cost Segregation Contributor
- CPA | Accepting new clients | California
Commenting to follow - I'm based in California.
I personally think out-of-state investing is a top choice. You can invest in any market selecting the ones that you believe are seeing the most growth, and do it from anywhere. Once you get your systems down, you have a real estate business model that you can take to any market and be still be successful. I work with plenty of out-of-state investors who are seeing great success here in Ohio.
Read this article on the "core 4". It explains the team that you should develop to have a strong foundation under you while investing remotely.
https://www.biggerpockets.com/blog/core-four-real-estate-team
Quote from @Samuel Diouf:
I personally think out-of-state investing is a top choice. You can invest in any market selecting the ones that you believe are seeing the most growth, and do it from anywhere. Once you get your systems down, you have a real estate business model that you can take to any market and be still be successful. I work with plenty of out-of-state investors who are seeing great success here in Ohio.
Read this article on the "core 4". It explains the team that you should develop to have a strong foundation under you while investing remotely.
https://www.biggerpockets.com/blog/core-four-real-estate-team
Hi Samuel,
Thank you for responding! And yes, I was gathering the same consensus as well for targeting strong markets to invest in. The biggest feat I am metabolizing so far is creating the right team, so I will certainly read this article soon!
In regard to studying markets/area, do you have an approach to take to gauge whether if a county/state is worth investing in for fix/flips? I am aware of some platforms that can help with a deeper analysis such as Propstream. Do you have a platform to use or strategy to adopt for analysis?
Also, your out-of-state clients are finding most success in fix/flip or fix/hold investing? Maybe Ohio would be an area of interest for me?
Rafael
Quote from @Rafael Macias-Gutierrez:
Quote from @Samuel Diouf:
I personally think out-of-state investing is a top choice. You can invest in any market selecting the ones that you believe are seeing the most growth, and do it from anywhere. Once you get your systems down, you have a real estate business model that you can take to any market and be still be successful. I work with plenty of out-of-state investors who are seeing great success here in Ohio.
Read this article on the "core 4". It explains the team that you should develop to have a strong foundation under you while investing remotely.
https://www.biggerpockets.com/blog/core-four-real-estate-team
Hi Samuel,
Thank you for responding! And yes, I was gathering the same consensus as well for targeting strong markets to invest in. The biggest feat I am metabolizing so far is creating the right team, so I will certainly read this article soon!
In regard to studying markets/area, do you have an approach to take to gauge whether if a county/state is worth investing in for fix/flips? I am aware of some platforms that can help with a deeper analysis such as Propstream. Do you have a platform to use or strategy to adopt for analysis?
Also, your out-of-state clients are finding most success in fix/flip or fix/hold investing? Maybe Ohio would be an area of interest for me?
Rafael
When doing research on potential areas to invest in, I would first decide whether you want appreciation, cashflow, or a mix of both. If you want cashflow.. look for markets with low entry prices and higher rent averages. If you want appreciation, identify markets with expanding industries, positive growth trends, and bright economic forecasts.
Columbus, OH, is where most of my clients invest, and it's a mix of both cashflow and appreciation. Columbus is one of the fastest growing cities in the U.S. so I advise my clients to buy and hold so they get the most out of their appreciating assets.
https://www.nbc4i.com/news/local-news/columbus/columbus-popu...
