Newbie from Irvine, CA Interested in Multifamily Outside CA

[Gene Maryushenko]

About Me

Hi everyone! I'd like to introduce myself briefly. My name is Gene and I'm brand new to REI and have yet to make my first deal. I came across BP through one of Brandon's youtube videos one day while searching for videos on how to become a day trader. Strange path, huh? Anyway, I've been renting for the longest time and would like to purchase a multi-family live-in somewhere nice. The problem I'm having now is deciding where to look and how to find a good deal. I'm a bit open as to where to invest / move to because I work online but so far have been looking at the Seattle area and Austin, TX markets.

My Goals

I've been really intrigued with multi-family buy and hold strategy. It really sounds like something I'd like to do. My ultimate goal would be to have enough properties to generate good cash flow and to build a good net worth. Quitting my job is not really a priority but if it happens then great! The short term goal is to stop renting, put my money towards something that pays me vs the other way around and to get my feet wet in REI.

BP

So far I've listened to a couple of podcasts, 1 of an interview with Mehran K, who buys multi-families out of state and another by a fella (sorry can't remember his name) who bought his first multi-family live-in in the Boston area. Both were really motivating! I'm reading the Millionaire Real Estate Investor, but also find a ton of information on the forums (perhaps too much all at once) and feel a bit overwhelmed. I've also played around a bit with the SFH Rental Analysis spreadsheet (not sure if it would apply to MFH) but don't know how to figure out some of the values in it.

I'd love to get going with something, most likely outside CA (I don't think I can afford / finance anything here) as soon as possible. It would be cool to get to know local investors and learn from them as much as possible. I don't have too much to offer as a newbie but will gladly help out in what ways I can. I'm in local marketing now with a background in lead generation and web development so if you need any website help just let me know!