Distance investing, West vs. East

[Julie Fullmer]

Greetings everyone! We are new to BP oh how I wish I knew then what I am learning now!!! (isn't that always the case?) 

We have owned several properties over the years. First purchase was a singlewide trailer nightmare that taught us a lot of painful lessons. We have bought foreclosures with the idea of fixing up while living in them but then because of job changes and lack of knowledge lost money offloading them. We now own rental in NM that basically pays the mortgage .... And a place in Alaska (value about 170k) that we owe $40k on a verbal agreement to my inlaws payments to start after we get our 2kids through christan college.... 

Due to health issues and location (based overseas for another year or two) I am not working so surviving on husband's income. 

I have struggled trying to figure out what I wanted to be when I grew up. (have done elderly care, childcare, janitorial, landscaping, construction helper) But I am excited about this! I love creative things and talking to people. I need to work on my organizational skills and focus but I can see myself doing great in this aspect of real estate. With our experience on our houses I know what to look for in property and what it will take to fix. 

I have money I can borrow off our 401k but at this point I really need more up front cash flow and less passive income. 

I see people talking about how cheap property is in the east and south but it seems really scary to me to own property in places I don't know anyone. We haven't had good experience with management properties. 

Any suggestions on how I can get involved to secure our future from across the world? 

Thank you so much for all of you who have been willing to share your experiences and knowledge to help others. BP is amazing! 

Julie Fullmer 

[Levi Rudder]

Hi @Julie Fullmer there are multiple ways that you can get cash flow using the funds that you have available. Depending on how much you are looking to deploy can somewhat limit what investments are available to you. To get away from property management and the headaches with tenants you can invest in Notes like we do, or you can lend to others for their investments and charge them an interest rate. You can Joint Venture with others if you do not have enough funds to acquire an asset on your own. Please reach out to me if I can assist you in any way.

Best regards,

Levi