All Forum Posts by: Bryan Venable

My wife and I have been looking at different markets for a while now and have recently decided that our time would be better spent getting to know one market rather than spending more time analyzing several markets to choose from. @Viktor Chornobay's list covers many of the common markets we have come across. We will be focusing on Indianapolis. There are many reasons we are choosing Indy, but it's mainly just because it comes up a lot as a hot market right now and seems 'good enough' to get started with. It is certainly not as good of a reason I imagined myself choosing when I first started dreaming about real estate investing, but frankly we are just tired of being stuck in analysis paralysis and want to get started in the school of hard knocks.

@Mark Hughes unfortunately we don't have any friends or family in investor friendly markets. There are a lot of moving parts in what we want to do, but our primary goal with this first deal is to learn and hopefully we still end up making money so we aren't afraid of complexity.

Thank you everyone for your input. After spending what is probably far too long looking at markets, we have decided to start in Indianapolis. We feel like we will spend our time more effectively by getting to know a specific market rather than spending more time analyzing markets. So if anyone knows any good real estate investor friendly agents, property managers and/or contractors we would love to get their contact info. Thanks BP nation!

@Kyle Larson I have sent you a PM.

@Mike D'Arrigo very well said. That is indeed exactly what I am looking for.

@Bo Kim Thanks for your input, Indianapolis does keep coming up in my research.

Thank you everyone for your input. I now have several markets that I am going to research deeper, begin making connections, and start analyzing deals in.

Thanks @Keith Torsen, I will look into those areas. Do you happen to know any good realtors and/or property managers in that area?

You have all given me some great information to chew on. I'll likely start out in a location that doesn't cost much time or money to fly to if I need to, perhaps Phoenix, AZ. I'll also need to focus heavily on networking and getting a good property manager. It's easy to get caught up in the information from whatever latest book I just finished and want to try it out. Thank you actual people of BP for some real life knowledge!

@Derrick E. That's not a bad way to start, but with my dart skills, I'll likely end up investing in the middle of the Atlantic or Pacific ocean, lol!

@Jeffrey Holst Thanks for your thoughtful response. One of the reasons I want to invest further away is that it will push me beyond my comfort zone and force me to develop systems. If I pick someplace only a couple of hours away, then no doubt I will end up driving there and trying to do things myself instead of developing a system (For example, I'll end up attempting to install new flooring myself instead of hiring a contractor, which could save me money but cost me time). I will totally consider Chattanooga, TN. Thanks!

Hello BP community!

My wife and I are excited to start our first deal; however, I am having analysis paralysis with choosing a market. I just had many of my limited believes around needing to invest locally removed by reading Long Distance Real Estate Investing by David Greene. My next most important step is to start getting leads to analyze but I'm having trouble deciding on a market. The United States is just so BIG!

We want to use the BRRRR strategy and are looking for single family residences or small multi-family residences that will have an ARV around $100K-$150K as we have around $20K-$30K that we are willing to bring to the deal.

What cities/neighborhoods have you had success with the BRRRR strategy around that price?

I am hoping to get at least 5 locations from this discussion that I can start looking for deals in.

Thanks so much for your help,

Bryan

Hi Jenifer,

It looks like I grabbed the last spot on Meetup. Is the limit on Meetup a hard limit? I would like to bring my wife. We are both new to investing and very excited to learn from experienced investors in our area. I am particularly excited to hear about your tiny home village project. Even though it doesn't fit within our current investing focus, it is something I have dreamed about doing for a long time.

Thanks,

Bryan