All Forum Posts by: Jake Stokes

@Tyler Jahnke

Tyler! I appreciate it man.

I’m starting to do some investigating in the Midwest area to see what there is to find.

New to the idea of Real Estate investing but I definitely have the bug. Reading/research/podcasts/guys like you have really helped in the education process!

Jake

@Jermaine Chad Ingram

Jermaine,

I appreciate the advice and love the idea of ‘farming!’ I do believe I need to do be more creative. Especially in this area!

Jake

@Darius Ogloza

Ha! I’m glad I’m far enough away from the Bay Area!

Thanks for the response though! I’ll continue to do my research in town. And surrounding cities. Doesn’t sound like you had that great of an experience with out do state investing!

@Sharon Steenbergen

Sharon! Thanks for the response.

I love the idea of building a team in an out of state location. The more I research, the more it seems doable!

Was your first step finding a realtor in the area? Did you look for a fixer upper? Or a ready to rent home?

Jake

@Ralph Justiz

Thanks Ralph!

The goal is to have it replace my income. That’s why out of state investing seems so necessary for the time I’m living in this area.

Any suggestions on locations to start with?

Jake

@Patrick McCandless

Out of state is just a matter of knowing where to start! Like I said in the original post, it seems daunting but doable!

@Patrick McCandless

I agree!

I think buying some kind of foreclosure at a discount would be the best option in this county. A flip would probably make the most sense too.

The end goal is to buy and hold properties as a landlord. Starting with The BRRRR method along with House Hacking (Both of which the guys talk about in many of their books and podcasts) I just don't know if those are truly doable in this area.

Jake

Hello! My name is Jake.

First time poster here.

I want to jump in to real estate today. The “issue” (more of a roadblock) is I am living in a rather expensive area on the coast of California.

San Luis Obispo, Ca

Median home price: $749,900

Average rent: $2,625

I don't know if it would be worth buying a SFR in the area, simply for the expected appreciation. I couldn't see cash flow being something to boast about either.

I’ve listened to a few podcast featuring guys/gals who have had great success in Out-of-State investing. Sounds great and all but I’m Just uncertain! It seems like a daunting task to build a team of people you’ve never met to manage you’re properties while you’re 2000 miles away.

I hope everyone can prove me wrong!

Options:

A) Trust Appreciation and buy a “deal” in the area.

B) Invest out of state In a location that I’m not familiar with but has great cash flow rates. Building a team there.

C) Invest in my home town (Dalton, Ga) because I know the layout of the city. Where to buy, where not to, already know people in real estate, ect.

Thanks guys!

Jake