New member from bay area, California

[Rahul Dutta]

Hello BP,

I am a newbie investor trying to break it into the exciting world of real estate investing. Excited to be on BP. I am very impressed with the quality of information and the spirit of paying it forward exhibited by so many seasoned investors here. I am primarily looking to start with a buy and hold strategy and build wealth gradually using cash flow properties. From my research on BP, I have narrowed down Birmingham, AL as the first market for me to try. I am looking forward to learn more in the coming months from the veterans here and as I start building experience. 

Thanks

Rahul D

[Account Closed]

Rahul,

Welcome to BiggerPockets. It's interesting that you're living in one of the most profitable and financial wealth building markets, and you're looking to invest elsewhere. As much as you think our market is expensive, there's a high probability that it will be an expensive lesson to invest elsewhere. 

I suggest you reach out to @Abhay K., who lives close to you. He has been doing quite well in his real estate endeavor and can share some experience with you. @Kevin Auyong has invested in your market of interest. He can share with you his experience. It's best if we can learn on someone else's nickel so we don't have to be the ones paying the expensive lessons. As Master Oogway said "one often meets his destiny on the road he takes to avoid it."

For 10-12% yield, I'd rather give my money to @Jay Hinrichs to manage it and call it a day. If I'm a control freak, I can make that much doing private/hard money lending. The last option is crowd funding. No tenant, no toilet, no phone call, no headache. Why go through all the hassles to own some assets that don't appreciate to get 10-12% yield?

Best of luck.