Newbie from Gainesville, VA

[Joshua Wren]

Hello, my name is Josh and I'm a newbie trying to get into real estate. I live in Gainesville, VA, but am looking to invest in multifamily homes and rent them out in the Midwest, Pittsburgh, PA, and upstate NY because of how expensive it is in northern Virginia. I know this is a huge area, but I'm not really sure where to land yet. I've been looking primarily in Akron, OH and Pittsburgh, PA, but am open to any suggestions. I've been looking for the past year and have been reading Brandon Turner's books, which has gotten me even more excited about real estate! I just need to get this first one out of the way to get started, but it's been difficult because I own my dream house already and am having a difficult time getting a loan due to my massive mortgage. I'm also reluctant to take money out of my 401k because of the advice of my financial adviser telling me not to. Does anyone have any advice on what I could do? Preferably someone who was in the same predicament when they got started. Thanks!

[Todd Keith]

Hi @Joshua Wren. 

Welcome to BP. 

I'm kind of partial to Akron, myself, but we're finding solid cash flowing deals in other parts of Ohio as well. 

On the financial side, a SDIRA or Solo 401k is a powerful tool, if you want to use your 401k funds to invest in real estate.