Project Engineer Based in San Jose, CA - Focus on Multi-Family

[Craighton Poon]

Hello BP Community!,

I am a 27 year old Project Engineer working in the construction industry in San Francisco Bay Area, covering areas from San Jose, Mountain View, Palo Alto, Oakland and San Francisco. I have researched the many ways to build long term investments and I have decided that real estate is the market I want to dive into. I am looking to build long term wealth and the goal of financial freedom by the time I am 50-60 through buying and holding multi-family investment properties.

I believe that real estate is an industry that I can get the best returns for my investment, if I proceed with set plans and investment criteria, thus giving the investor most control over. This is why I like the real estate because it really gives the investor the power to make or break their investment. Through my experience in the construction industry I have seen how residential and commercial buildings I have seen why buildings fail to make a profit and how they have succeeded, this is the knowledge I want to apply to my personal real estate investment career. 

My research (though limited at this point) has lead me to want to invest in out of state properties, mainly in Houston and/or Austin, Texas due to the dropping oil prices I am hoping to find some good deals for a multi family unit. My end goal is to obtain 15-20 multi family properties within the next 10-15 years. I would love any advice I can get about investing out of state as a first investment or if you do not believe that should be done let me know why? 

Looking forward to connecting the with BP Community! 

Thanks,

Craighton Poon

[Ryan Landis]

@Craighton Poonwelcome! There are a bunch of Bay Area real estate investors on BP with a ton of knowledge (and everyone I have met is open to share). If you can, I would recommend attending one of the local meet ups. There are some great people that attend them and quite a number that do the exact strategy you are talking about doing. Personally, if you are looking to invest out of state, I recommend grabbing lunch/dinner with someone here who does it (and does it well) to try and learn about the process. Everyone usually has a slight twist to how they invest compared to the next person you meet, but getting grounded in the process will save you a ton of headaches and also help you set clear expectations of how to successfully execute as an out of state investor.