All Forum Posts by: Ignacio Linares

@Brandon Goldsmith thank you for your reply. Yeaa without throwing caution into the wind, I just want to get started more than anything. Don't want to be stuck on analysis paralysis. But all in all Columbus seems like a good starting point, just hope I'm not too late in joining the fray.

Good day fellow Biggerpockets members! So for the past 3 years all I have done is prepare for my real estate investing journey. I have tripled my income, built a strong credit score, saved money for a DP, read books and listened to podcasts, and even taking courses to get my REA license. Yet for all my preparations and planning, I still feel unequal to the task of Real estate investing, particularly out of state investing( Im from California). But I firmly believe that real estate is my path to financial freedom. My goal is reach $5000/month passive income, and I plan on achieving that through gaining 200 net cash flow per door. So I would have to have 25 properties to reach my freedom number. I believe through working hard, being dedicated, and working with integrity, anything can be achieved!! So my questions are as follows:

1) For your first deal is better to fly solo or with a partner? What if you don't have any available partners, how do you find one?

2) What do you do if you find yourself looking at a hot market, in my case Columbus, Ohio. Do you make the market work for you or look elsewhere?

3) For picking a state, I have settled on the Midwest, particularly Indiana and Ohio. I am looking at landlord friendly laws, low property taxes, low median home prices, positive population growth/migration, low unemployment rates, diversity of employment, good schools, low crime. Am I missing anything? 

4) I didn't realize that it could possibly take a while to find a deal. How long does it usually take to find a good deal?

5) There's always the debate between cash flow and equity. I want to get both, but from what I understand it's always either one or the other. Is it possible to find a hybrid market? Do those still exist?

6) For my first out of state investment property should i look for a property with light repairs, or look for one that needs alot of rehab but potential for equity?

7) Should I fight for proerties on the MLS or look for off market deals?

Anywho I realize this an extremely long post. For those who took the time to read it, my gratitude. Any advice or tips will be greatly appreciated. Thank you, have a blessed day!

@Derrick E. Thanks for the input!

@Linda Labbe Hi Linda, I would love to pick your brain for a but seeing as to how you have more experience. Hope we can chat soon!

@Jesse Stein Solid advice thank you

@Jason Stubblefield thank you for the valuable insight for Kentucky! Those new factors are definitely something to consider and I would not want to have the law against me when I invest OOS

Yeaa California for you. I take it you're doing a 1031 exchange?

@Lee Ripma is that something I can find online? Lol

@Marc Rice would greatly appreciate it! Thank you.

@Christopher Cole Thanks for the input! Unfortunately I've already considered looking in my own backyard but the numbers do not make sense