New Investor in San Bruno, California!

[Cody Zimmer]

Hi there! My name is Cody and I'm excited to get started investing in real estate. I grew up around real estate, my father was a broker, and I've always wanted to get into investing for cash flow. My goal is to acquire enough rental units (either SFH or small multi-family), to replace my paycheck and focus on real estate full-time.

Before I found Bigger Pockets, I didn't think this sort of thing was possible.  Living in California, especially the here in the Bay Area, prices are high and I just didn't think I could afford to invest.  Fortunately I have enough equity built up in my condo that I believe I'm in a position to start investing if I look in more affordable areas.

I'll probably need to look for properties out of state, so I'd appreciate any recommendations of areas to check out, or any advice in general on the topic.

Also, I'm hoping to be able to grow as quickly as I can manage, I don't want to just acquire a single property and then have to wait years to save up for a second. That's why I'm considering the BRRRR method that Brandon talks about in the podcasts. I'm also very curious to hear opinions thoughts on this as well.

Thanks for taking the time to read my post!  I'm eager to get started and to become a member of this community!

[Ray Lai]

@Cody Zimmer

To find a good turn-key company, you must first understand all the numbers. I've had experiences here on BP where turn-key companies approached me with numbers that weren't correct; for example, they would be lowballing maintenance expenses or leaving it out, leaving out CapEx, leaving out vacancy reserves, etc and shoot you rosey numbers. They'll also promise excellent areas when in fact they could be C area and market it as an A/B area.

Before you can find a good turn-key, you need to

1) Learn the numbers by going through the spreadsheets here on BP and running analysis

2) Figure out where you want to invest based on the large macro trends (e.g. DFW, Midwest, or FL are pretty hot). There are also good articles written on BP on where people are investing, but more importantly you need to understand why

3) Always verify all information and take it with a grain of salt.

I've had great experiences with Spartan Invest, they are really solid people if you're interested in Alabama. 

There is no magic way to find a good turn-key, just make sure you verify all the information they provide. Also, ALWAYS be willing to visit the team and check out properties in person if it's your first purchase. Don't take shortcuts because it might work once or twice, but when you get burned it will be very costly and set you back alot.

Hope this helps.