New Member Introductions
Market News & Data
General Info
Real Estate Strategies

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal


Real Estate Classifieds
Reviews & Feedback
Updated over 3 years ago on . Most recent reply

New investor learning about Memphis and Rochester
Hello BiggerPockets community!
First of all, I would like to send my biggest thank you to all BiggerPockets folks, without whom our journey to REI would not be possible! My wife and I have been an avid listener to BiggerPockets podcast for quite some time now (lovin' the show!), and it's only time now to start our own journey in my out of state real estate investing!
I'm a new investor, currently living in the SF Bay Area, looking for opportunity in out-of-state Rental Properties Investment.
Currently, our research have been narrowed down to 2 locations: Memphis and Rochester.
Our research has led us to focus on SFH turnkey rental properties or properties that require minor cosmetic rehab, do enough repetitions with incremental expansion on rehab project size, and build our portfolio from there. Preferably B to C+ class properties depending on the city. For example, Rochester might be more interesting for B class properties given the type of employment and house price index growth. Long-term rental is also preferred.
Any thoughts?
Trust is key - reading few REI books, I have noticed similar echoes: investing real estate is about people. BRRRR talks are interesting in longer term (and we'll do due dilligence on our research on whether out-of-state BRRRR carry sufficient risk we can't tolerate), but for us, to establish a solid, honest, trustworthy professional team of best people in the area (PM, KC, GC), and get it right for the first few iterations is much, much more important as a first step.
Ultimately, our mental model is to stay open minded and to learn rigorously. We are open to learn new markets, new type of properties, or even change our approach on things when required.
We'd love to hear from you investing experts -- your feedbacks and advice are always welcome!
PS: As for fellow SF Bay Area locals, would love to have a chat over coffee with you! Please connect and ping me anytime.
Warm Regards,
Dimas R
Most Popular Reply

@Dimas Rinarso - Congrats on making the jump into real estate!!
My biggest suggestion is go visit multiple turnkey companies in each city and ask them to speak with some of their clients. Once you narrow down the companies then you can post on BP and get some other feeback from people who have worked with them.
I can only speak from Memphis perspective but there are lots of amazing turnkey companies here who would love to help provide you with a home. (so many that I'm not even going to start listing names because I'd leave them out!)
But also post your question in the Memphis forum and that might reach more people
I have not done turnkey in Memphis but have owned several rentals; it is a good market.
Reach out to me when you come visit and we can grab some famous Gus's fried chicken!