All Forum Posts by: Alexander Canha

Rely heavily on referrals, whenever you can. I personally advise against buying a property sight unseen and recommend that clients come out to Connecticut to see the property once it is under contract, and scheduled for an inspection. Don't buy something based just off of photos. Ask your agent to do a video walk through.

Don't get caught up on how far it is if you're already looking at markets that require plane flights. Seriously. The mindset that "I can get there that much quicker if it's in X market vs Y market is flawed." There will not be emergency plane flights for you, your PM should be there for emergencies.

To me, the most critical part of your OOS strategy will be a great property manager. A great PM will make or break your investment in my opinion. Choose wisely.

Lastly, work with someone who has the heart of a teacher, not that of a salesman. It's important that you learn through the process and develop skills that will make you a better investor, as opposed to just going through the steps but not learning anything!

Talk soon,

Filipe

Thank you Filipe! Yes, from what i've read, a team is everything, especially a good property manager. As a PM yourself, do you have any advice on certain things I should look for in a OOS PM?

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Originally posted by @Kiera Underwood:

@Alexander Canha A lot of people talk about building their team in OOS markets. I'd work with a provider that already has that team built for you. If you work with someone that is established and has tried and true vendors then you don't have to reinvent the wheel. If a contractor has worked with a provider on over 200 deals, the chances that they'll do a great job on your property as well is higher.. just as long as it's a trustworthy provider. Vet providers by reading reviews and talking to clients the provider has worked with in the past.

You can find great deals in many markets. The team you work with will make you or break you! I'm OKC biased because I work, live and invest here but I also see hundreds of OOS investors a year come her due to the stability, approachable price point, solid returns and landlord-friendly laws.

Happy to answer any questions. Good luck!!

Thank you for the reply!

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Hello! I'm new to REI and have decided I want to invest OOS for cash flow rentals. I have only lived in the Bay Area my entire life so have very little knowledge of other markets. I've been doing research for awhile now on different markets and have narrowed it down a bit, however I wanted to get the opinion of others! What key factors do you investors look for when picking a market to enter for cash flow (besides living in that market for a period of time)? Any and all advice welcome. Thank you!

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Hi BP,

I'm new to BP and REI as a whole but have been doing research now and reading some books for some months now preparing to jump in but I'm feeling stuck. I'm looking to get into rentals!

I live in the Bay Area and have enough for a down payment on a property here, however, I know it can be harder to cash flow here and I was thinking maybe i could stretch that money in a different city (thinking about Phoenix area) where the market isn't as high, where I could probably put that down payment into two properties.

I'm looking for advice. I'd rather invest locally and be able to manage everything myself, however if I'm looking to scale, Bay Area doesn't seem like the right market right now?

I appreciate any and all advice! Thank you!

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I'm also in CA and to add onto this question, what other factors do CA investors consider when calculating cash flow?

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Hello all,

I'm brand new to REI and BiggerPockets. I live in the SF Bay Area and am interested in rental properties. But from what i've seen and understand, is that it's quite difficult breaking into the market in this area. Basically, I'm looking for any and all advice as to how I should break into the market, or look elsewhere and maybe look into turnkey investments in another state? Ideally, I wanted to buy my first property locally, but not sure if that's going to be a possibility .

Like I said, any and all input is welcome and if there's any BP meet-ups or anything of that sort in the Bay Area, i'd love to know. Thanks!

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All Forum Posts by: Alexander Canha

Alexander Canha has started 20 posts and replied 57 times.

Post: How To Pick OOS Market

Post: How To Pick OOS Market

Post: How To Pick OOS Market

Post: How To Pick OOS Market

Post: Starting Out But Feeling Stuck!

Post: Is it risky to now consider vacancy as part of analyzing deal?

Post: Bay Area First Time Investor..Help!