First Time Out of State Investor Looking for a Game Plan

[Lau Cor]

Hey guys! Newbie here on BP. I have a goal to buy my first real estate investment in 2025. I live in CA. My goal is for investing to grow my wealth and maybe replace my W2 in the future. For my first investment, I'm looking for a safer investment with a goal to at least break even in 12 months and possibly focus on learning long term cash flow and appreciation. I plan on purchasing the home with an LLC and want to use a DSCR loan. Currently, the areas that have interested me are Memphis/Nashville/Knoxville, TN, the Colorado Springs area in Denver, as well as North Carolina. I feel like I've missed the boat with Austin, Tx for the 1% rule. My budget for my first property would be somewhere from 50-80k as a down payment. Can some please help me with a game plan of where to start? I'd deeply appreciate it.

[Todd Anderson]

@Lau Cor,

Welcome to the Bp community.  Being that you are looking to make your first investment OOS, I would recommend finding a turnkey solution in a good growing market.  

To get the most out of your investment you should find a market that is growing in population and Jobs.   This will let you get in the way of appreciation.

Next find a situation where you can talk and learn from someone who has done it before.  When you build a good relationship with a good turn key provider, they can help you find the best deal and best vendors to work on that deal. The investors that I work with like the fact that this has been something that has been accomplished before.

With OOS investing the team that you work with can make of break a deal.  take the time tom find the right team.

Best of luck.