New to BP Community

[Leon George]

Hello BP members!

I’m new here and just starting my real estate investing journey this year.

I live in NY but am looking to purchase multi-unit properties (4+ units) in a growing market outside of the state.

Here are a few concerns I’m working through:

1. As a newbie, is it a good idea to buy a property out of state? I plan to use a project manager but would love to hear your thoughts.
2. Finding a reliable and trustworthy property management company feels like a big hurdle. Any tips?
3. I’ve never analyzed a deal before, so while I’m excited, I’m also nervous about making mistakes. I know from BP podcasts that mistakes are part of the process, but I want to avoid anything that could jeopardize my family’s financial stability.

Despite these concerns, I’m ready to dive in! I’m here to connect, learn, and share what I pick up along the way as I (probably awkwardly) work toward financial freedom. Looking forward to learning from you all!

[Leon George]

Quote from @Samuel Diouf:

Welcome to Bigger Pockets Leon!

Bigger Pockets is a great place to learn and connect with fellow investors.

If you’re looking to invest long distance, I definitely recommend building your core-4 team. This team consists of an Investor Focused Agent, Lender, Contractor, and PM.

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

Thanks, Sam!

Slight Update: After speaking with more BP members, I’m increasingly leaning toward making my first purchase in New York—a 4-unit rental property where I’d be my own landlord. It’s a bit intimidating since it’s outside my usual scope of business, but I’m committed to taking the time to learn how to be an effective landlord.