Singapore to San Francisco to the Midwest/South!

Singapore to San Francisco to the Midwest/South!

San Francisco, CA · Member since 2017 · 10 posts · 1 vote

Hi BP Fam!

I have been looking into and learning about investing in real estate for some time and am looking to start pulling the trigger and cut my teeth. 

I found BP a little while ago and am just now getting into the forums. 

I live in Singapore...one of the most expensive markets in the world. 

I am from San Francisco...one of the most expensive markets in the world. 

I have some family in Tennesse, Georgia, North Carolina etc. and I am looking to invest in some or all of those areas and any others in that region of the country that are more affordable to get into.

I am learning about and looking for properties to buy, update and hold for cash-flow, but am open to learning all investing techniques. I'm interested more in Multifamily properties and am thinking of starting with non-commercial.

So obviously looking in the associated areas for good;

Agents

Brokers

Contractors

Property Managers 
Any advice on how to find good ones or where to start looking on BP would be greatly appreciated. 

I have some capital as well as some property that can potentially be leveraged in the San Francisco area.  

Would love to hear from anyone interested in helping this newbie out, networking or partnering.  I'll do anything to learn how to be successful! 

Thanks so much for reading!  

All the best to all of you!!


Derek

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Investor · Downers Grove, IL · Member since 2015 · 1k+ posts · 955 votes
8y

welcome to BP

@Derek MacBay

I was brought up in Singapore, haven't been back for several years. My little one can't sit still on a short flight to Cancun, let alone over 12 hrs flight on the first leg. 

Now, we have settled down in the chicagoland area.

If I were you, go through all the podcasts, blogs and check out the recommended books. Get some basic education while you build your team in the markets you want to invest in.

Welcome to the BiggerPockets Ultimate Beginner's Guide to Real Estate Investing

REAL ESTATE INVESTING BASICS

The Best Real Estate Books for Your Investing Business

Good luck! 

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  • Investor · Downers Grove, IL · Member since 2015 · 1k+ posts · 955 votes
    8y

    welcome to BP

    @Derek MacBay

    I was brought up in Singapore, haven't been back for several years. My little one can't sit still on a short flight to Cancun, let alone over 12 hrs flight on the first leg. 

    Now, we have settled down in the chicagoland area.

    If I were you, go through all the podcasts, blogs and check out the recommended books. Get some basic education while you build your team in the markets you want to invest in.

    Welcome to the BiggerPockets Ultimate Beginner's Guide to Real Estate Investing

    REAL ESTATE INVESTING BASICS

    The Best Real Estate Books for Your Investing Business

    Good luck! 

  • Real Estate Agent · Atlanta, GA · Member since 2015 · 295 posts · 117 votes
    8y

    Hey @Derek MacBay I am a local agent in the Atlanta market and specialize in selling OFF-market single family homes.

  • San Francisco, CA · Member since 2017 · 10 posts · 1 vote
    8y

    @Chris T.
    Thanks for the welcome! 
    I have definitely been digging into the information, it's super useful! Thanks for the links!

    And the flights aren't horrible with the kids...they just stare at the TV monitors until they fall asleep! haha!

    What's the Chigago/Illionois market like? 

  • San Francisco, CA · Member since 2017 · 10 posts · 1 vote
    8y

    Thanks @Ethan Henning ! I Pm'd you!

  • Singapore, Singapore · Member since 2018 · 57 posts · 11 votes
    8y
    Hi @Derek Macbay I am in Singapore as well and just returned from the US this morning. Went there for closing of my first investment property in Austin. Let’s connect and meet here in Singapore. I am now looking at Raleigh-Durham now.
  • San Francisco, CA · Member since 2017 · 10 posts · 1 vote
    8y

    @Surendra Chawla , Awesome!! 
    I would love to get together and here about your experience! 
    I will be headed to the states for a couple months in June, so maybe sometime this month???
    PM me and we can arrange something. 

  • Singapore, Singapore · Member since 2018 · 57 posts · 11 votes
    8y
    Sent you a PM, Derek.

    Originally posted by @Derek MacBay:

    @Surendra Chawla , Awesome!! 
    I would love to get together and here about your experience! 
    I will be headed to the states for a couple months in June, so maybe sometime this month???
    PM me and we can arrange something. S

  • Rental Property Investor · San Francisco, CA · Member since 2015 · 236 posts · 156 votes
    8y

    Welcome to BP @Derek MacBay!

    I have a similar story!

    I'm from Hawaii....expensive real estate market.

    Moved to LA for college....another expensive real estate market.

    Decided to move to San Jose....expensive real estate market.

    Then moved to Shanghai...don't even think about real estate in that market.

    Then back to the states in SF....you get the point!

    One advice is to start analyzing deals and call listing agents. From there you can build your network. I found a multi-family listing, called the agent and decided to make an offer. During my due diligence, I contacted a property manager of a building down the street from the building I made an offer to get an idea of rental comps in the area. Now that property manager is managing my property! And through that property manager, I was referred to a commercial real estate broker that they work with. Now that broker is helping me find my next deal!

    Just take that first step and take action!

    Good luck to you!

  • San Francisco, CA · Member since 2017 · 10 posts · 1 vote
    8y

    Thanks @Sherwin Gonzales , that's a great experience. 
    Where do you recommend looking for listings?
    The typical online sites?
    Anywhere else you look? 
    Also, how did you find out the PM for the nearby property? 
    I'll be in San Francisco in June/July if you are around for a meetup. 
    Thanks again! 

  • Rental Property Investor · Glen Rock, NJ · Member since 2015 · 3k+ posts · 2k+ votes
    8y

    @Derek MacBay Welcome to the BP community! You already got some good starting points and links to the recommended reading by @@Chris T. and @Sherwin Gonzales. I'd add that if you plan to start with residential multifamily, then go to the local MLS sites and when you see a listing you like reach out to the listing agent directly. Tell them what you're looking for and indicate that you're interested in working with a listing agent only. Also, call a few property management companies and introduce yourself, indicate that you're planning to build relationship and bring them business. And then make an effort to call them periodically.

    In terms of covering multiple markets, I'd recommend to stick to one or two markets at this time. Since you're starting out and long distance, I wouldn't spread yourself too thin at the beginning. 

    If I can be of further assistance, feel free to reach out.

    Best of luck! 

  • San Francisco, CA · Member since 2017 · 10 posts · 1 vote
    8y

    Thanks @Alina Trigub , great advice, thanks!
    Would love to hear what others think are the better markets in those areas. 
    Is it better to stay in the bigger markets, Like Atlanta, Nasheville, Memphis, Charlotte etc.  Or is it better to go into smaller markets like Augusta, Knoxville, places like that? 

    Thanks to everyone for the great information!!

  • Lender · Playa del Carmen, México · Member since 2014 · 2k+ posts · 1k+ votes
    8y

    Hi @Derek MacBay and welcome to BP! My best advice for getting up to speed quickly in a new market is the same approach I'd recommend for learning a new language: full immersion.

    Find active wholesalers in your target market and get on their mailing list. Then, as the deals flow in, dissect each one using your preferred analysis methodology. (I'm a sucker for cash-on-cash return, myself!) Yes, some of the "deals" will be crap, and some of the wholesalers will be utterly useless. But eventually, somewhere between Deal 1 and Deal 100, patterns will start to emerge.

    Finally, call up those local wholesalers who don't suck and discuss your observations with them. Adjust your ideas and recalibrate your assumptions accordingly. Now that you've put in the hours, they'll be happy to take your call and talk business.

  • San Francisco, CA · Member since 2017 · 10 posts · 1 vote
    8y

    @Mitch Messer , thanks so much, great advice and well said!

    Where do I find these people to get on their email lists? 

    Thanks again!

  • Rental Property Investor · Member since 2019 · 72 posts · 33 votes
    7y

    @Derek MacBay

    I’m about to close on my first property in Atlanta. Have another in contract. Working with an awesome team that keep share the risk. Doing all this while based in Singapore and traveling across EMEA&APAC.

    I’m new to this industry and learning along the way. Happy to share what I’ve learned.

    Keen for kopi?

    Luke

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