@Francisco Franco I had the same problem when i wanted to start in New Jersey/New York. There are definitely strategies that work for real estate investors in OC, New York, and New Jersey. This usually consists of buying distressed properties and flipping them. That being said, when I was first getting started I did not have the resources, capital, or network to do this. Now I am starting to put together a great network where this is possible, but not quite ready for that plunge.
My advice to you is you have to look else where for the time being. Just this year I got involved in real estate and bought 4 properties and another one under contract. The first 4 are in a college town down south. I drive down there about every 2 months to check up on my properties and view more. This is a 6 hour drive, 1 way! You have to be committed. The 4th property I am under contract for is in Bethlehem PA which is about 1.5 hours from me. Same kind of situation, it produces amazing income.
The way I got started in these towns is I literally just called a bunch of listing agents and set up a bunch of appointments for one weekend. For example, I would go down to this college town on a Friday night, air bnb that night, see 6-10 different properties on Saturday, meet 6-10 different listing agents, and even if I don't like any of the properties I now have 6-10 different connections in a town I am not even from. I keep in contact with them all the time and I get a deal sent my way at least 1-2 times a month. Some of them being pocket listings. Befriend these people, be very nice when you meet them, ask them how they became successful in real estate, do they invest, get to know them. I did the same thing in Bethlehem PA.
Why listing agents? Reason is, they are usually more experienced, have more connections, and if you contact listing agents for Duplexs, Tri-plexs, Quad, etc they know the investing world. I literally only use listing agents and when I close they are duel agents. Some people may tell you this is not a good idea because listing agents are only in it to represent the seller. I have not found this to be the case. I go by a very lax attitude which is, most people are good people. This is so true and not many people are looking to screw you over because for 1 they are liable as a duel agent and two if you are an investor and they are good at what they do, you are more valuable to them then the seller. Also, if you are smart and know the game its impossible for someone to get the best of you. Trust but validate.
Anyway, this strategy works well. If I were you I would find a market near you that has a good rental market. (1-5hours away). Any property that looks interesting, call the listing agent, be friendly, tell them about yourself, and set one weekend to see like 5-10 different places. Try to make each person a different listing agent, so you are meeting as many people as you can. Give them your contact information and when you need to talk to them CALL THEM! A simple email saying "I am not interested in the property" is not going to get you a future lead. Call them, explain to them why you don't like it, get into a conversation with them, open up, and I guarantee you the next pocket listing they have they will let you know about it.
I am fairly new to the game but im telling you this strategy works. Right now I have 3 other deals on my plate that I still need to analyze, all pocket listings. Try it, and let me know how it works out. The long drives obviously suck but if you give up one weekend to make solid connections it will pay off huge. Get some coffee, beef jerky, bring ur wife/friend/gf, create a play list and make the best of it! Also renting out a dope air bnb helps!
