All Forum Posts by: Account Closed

@Vincent Crane - I am with you, It's hard to beat LA's culture and weather but I don't necessarily see myself living here forever. The traffic alone is enough to drive you mad. 

@Ali Boone - Thank you for your post, it is really inspiring to hear about your experiences managing out of state properties. With how connected we all are today, I am sure staying in touch with your team is easier and easier. It's really good to know. 

@Jo-Ann Lapin, thanks for the advice! I am totally with you on the weather thing. I have been compiling information about potential cities to invest in such as economics, population, and weather. For the weather in Columbus I wrote "miserable" haha. 

Thanks, @Larry Fried. The input I've received and my own research has been pointing me in the same direction. Thank you for the advice!

Welcome, @Chris Webb! You will find a wealth of knowledge on BP. I'm super new and I have learned so much in just a few weeks. 

I hear Raleigh is a great city! 

Thank you, @Jayden Hakunti, your advice definitely helps. Thank you for the input!

Thank you, @CK Hwang. Your comments are very helpful. I think I am a little intimidated by the LA Market just because of how high the prices are. I know it's possible to raise more capital and to do nonconventional financing, I think if I were to invest here I would need to hustle pretty hard, which I am definitely willing to do. I think I need to calculate the returns that are possible here versus elsewhere. So much research to be done! 

I agree that it's a little difficult to start a business being hands-off in another state. 

As I continue doing my research on where to start investing, if I decide on LA, I will definitely reach out to you to see if we can get together and start working on different opportunities.

Thank you again!

Thanks for the input, @Sterling White and @Kevin M. Rooney! How long have you both been investing in Indianapolis? Is there a lot of growth there? 

Thanks for your input too, @Joseph Scorese! As I further my research on different markets and start reaching out to professionals in the area, I will definitely be in touch.

@CK Hwang

Thanks for your response and for the guidance!

First and foremost, I want to start building a real estate business. It is something that I have always been passionate about and I would love to find a way to allow my passion to bring me a profit. I see myself owning many properties. I can't put a number to it yet, but I want to have enough properties that are bringing in a good revenue.

Financially, I would like to have financial independence that allows me to begin my business. I currently work as a property manager and would love to create a property management company that naturally evolves from my investments. 

Lifestyle wise I am hoping that my investments one day will allow me to live a little more independently. I love traveling and I would love to have passive income which allows me to travel without having to be tied down to a specific number of vacation hours a year. I would ultimately like to automate the business so that my physical presence isn't necessary all the time.

Right now, my hang up on living in LA while investing out of state is that I am still paying my ever increasing rent. If I can find a more affordable place to live, I wouldn't be throwing so much money into another person's mortgage and I could potentially be turning a profit for myself. Also, if I start in a more affordable market work my way up to that independence and automation, I can always return to LA if I so wish. 

I hope that helps. Again, I'm really new at this so I'm just starting to form my plan of action, some of it feels very lofty to me but I think you have to start somewhere, right?

Thank you again for your response and your help!

Hi Everyone!

I currently live in Los Angeles and I am actively looking to start investing in real estate. My ideal first deal would be a multi-family (anything from a duplex to a quadplex) in which I would live in one of the units and rent the rest. I want to work my way up from there, acquiring more rental properties maybe doing some flips. 

As you are aware, the market in Los Angeles is insane. I am reaching out to the community to get some advice.

Should I physically move to a market that is a little more favorable to investing? I'm originally from Ohio and have been tossing around the idea of going back to the Buckeye State (probably Columbus) to start acquiring properties. I am also interested in Pittsburgh and Philadelphia. 

I've heard mixed things about starting off with out of state investments. The thing I like about investing in your own backyard is that you can closely monitor the market, network with local investors, and give back to your community. I'm not sure if you have the same opportunity with out of state investments. Plus with out of state investments, it's hard to check up on your properties and your property managers regularly. 

What are your thoughts on investing locally or out of state?