Very new from Long Island, NY
Hello Biggerpockets,
I am a 22-year male from Nassau County, NY. I have listened to some podcasts and have been lurking on this site for quite some time now. I am really interested in getting to network with you guys and gain valuable knowledge for investing. I am interested in investing out of state, due to the high cost of housing near me. I was thinking Ohio, or Pennsylvania just in case I would have to drive to check out the property. However, I have now been hearing you don't need to look at the property to buy it but you definitely need a good team working with you. Furthermore, I would like to acquire rental properties using the BRRR method. One problem I have is I only have around 20K to invest. I would like to buy and rehab the property cash because that would help with the BRRR method. I am looking to maybe go with a hard money lender or ask my uncle to finance the rest. I am really eager to invest now but I am overwhelmed by all the steps. I would love for someone to give me advice or partner with me as this is all so new to me. Any help or advice is greatly appreciated!!
Most Popular Reply
Hey Matt, very smart for trying to invest out of state. Right now may not be the right time to try a brrrr As someone who is just starting out, that being said it is totally possible if you find the right deal but this is definitely not a forgiving market. I wouldn’t limit yourself to places that you can drive to, you could be stepping over dollars to save pennies in doing that. As long as you do your proper due diligence and make sure you are dealing with Quality property management you can invest anywhere you want!