New investor from Boston looking to invest out of state

[Ben Koslof]

Hi all! I have never invested in any properties but I have been thinking about doing so for some time. I have been doing a lot of research and decided that the best way to create passive cash flow is through owning rental properties. That is why I have decided to go the buy and hold route and embark on this journey once and for all... I also have decided to invest out of state, as I am from the East coast and properties are very expensive in my own backyard. My focus is in blue-collar working class neighborhoods in B or C neighborhoods in cities such as Jacksonville, Austin or Indianapolis. I like Jacksonville because of its consistent job growth, Austin for its recent population boom and Indianapolis for its low prices and high ROI. I also know that I would like to invest in single family homes renting anywhere from $500-$1000/month for homes costing anywhere from $30-65k including renovation costs. These are typically builders grade homes with 2-3 beds and 1-2 baths. I am looking to start turnkey to dip my feet into a market, but eventually would like to get a team started in a targeted city. This would involve boots on the ground including realtors, contractors and property management. I believe real estate is a business that involves 20% working the numbers and 80% dealing with people. I know that the key to successful real estate investing is having great relationships with your investment partners. So that is my story...I am glad to have found this community and look forward to speaking and listening to the many fellow investors on this site as I embark on this journey. Please do not hesitate to reach out to me to talk at anytime. I would love any advice or suggestions and welcome any contacts looking to connect with potential investors, especially those in target cities. I also just like discussing real estate and investing strategies in general, and look forward to sharing my experiences as I start my life as a real estate investor. Thank you for taking the time to read my post and hope to hear from many of you soon! Take care, Ben K. from Boston