New OOS Investor looking for a Trustworthy Turnkey Company

[Evelyn Kop]

Hi Everyone!

First off I want to thank everyone on BP for being incredibly supportive! I've mostly been browsing the forums and binge watching the podcasts, but  the few people that I've already reached out to have been really great! As a new investor the wealth of knowledge on this site is invaluable! So I figure why not tap into it and get some advice?

We are from Hawaii and are looking to find investment properties that provide passive income.  After research we were attracted to Dallas, Houston, Kansas City, Memphis, Ohio, and possibly Utah. I've contacted Memphis Invest, AREI, USREEB, Midsouth Homebuyers, Ohio Cashflow, Norada, and we're waiting to speak with Morris Invest. I'm kind of at a point of analysis paralysis...with our work schedules, the distance, and a toddler I don't think we can visit any of these sites in the near future. We want to focus on cash flow first but wouldn't mind appreciation as a added benefit. I'm anxious to start but also nervous about who to trust with our hard earned money. 

I would really appreciate everyone's insight and experiences with these areas and turnkey companies (or your own recommendations) Are we too late to invest in Dallas or Houston?

Would also like to connect with other Hawaii investors!

Eventually I would love to own properties in CA, and the east cost...possibly abroad!

Wishing everyone continued success on their path to passive income and financial freedom!

@Joshua Dorkin & @Brandon Turner - Keep the podcasts coming, LOVE THEM!

Evelyn

[Marco Santarelli]

@Evelyn Kop -- Welcome to BiggerPockets.

I'm glad to see you are taking your time and doing some research and due diligence. My first rule of my 10 rules of successful real estate investing is "educate yourself". Knowledge is the new Currency. You will reduce risk and go further by building your knowledge.

I see that you had a reasonably detailed conversation with Michael on a Sunday morning. That's dedication. It's important for you to know where you stand and where you want to go. That leads to your roadmap. Then you can define your criteria and let the criteria drive your investment decisions in terms of the market, neighborhoods, property type, cash flow or return requirements, etc.

Be cautious of some property providers who will try to sell you properties that look great on paper, but are in poor or lower-income neighborhoods where are your tenant issues and turnovers might be greater than better properties in better locations. There are many things to consider, so be sure that you have an advisor or counselor looking out for your best interest.

It's also strongly advisable  that your counselor be completely agnostic; meeting they are not married to any one market or provider, or property manager, or lender, or any other service provider. Otherwise there is often a strong tendency to provide biased advice or suggestions.

I could go on, but I'll let you ask more questions.  Also, consider downloading our free e-book, "The Ultimate Guide to Passive Real Estate Investing".

P.S.  Why would you be thinking about only properties in California or the East Coast? That's a discussion you may want to have with Michael, me or anyone on our team. In most cases that's not investing.

Continued success!