All Forum Posts by: Joshua Davies

@Eric Geers Hi Eric, welcome to BiggerPockets! I also live in SoCal and work in Newport Beach, so I definitely know what you mean about the prices!

I have invested out of state and definitely recommend it! Let me know if you are interesting in connecting!

Cheers,

Josh

Giving this one a bump guys. If anybody is interested in a meet up to discuss real estate investing. Please get in touch!

Hi Everybody,

I am looking to start a meet up within the Yorba Linda/Brea, CA area. We already have a few people that have expressed interest in meeting to talk real estate investing. If there is anybody else that would be interested, I would love to hear from you and add you to the meet up!

We are hoping to meet during the first week of February.

Hi Everybody,

I am looking to start a meet up within the Yorba Linda/Brea, CA area. We already have a few people that have expressed interest in meeting to talk real estate investing. If there is anybody else that would be interested, I would love to hear from you and add you to the meet up!

We are hoping to meet during the first week of February.

@Markus Gomez I have never purchased a flip out-of-state, however I have bought rental properties out-of-state. The absolute key is to have a solid team in the area you are purchasing, this is vital to any out-of-state investor. 

You will need a real estate agent, property manager, lender, contractor, and attorney. I would first spend the time to build up a solid trustworthy team, and by doing this you will have access to the best deals in the market.

@Josh R. congratulations! Off to a great start!

@Joey Baghdadi no problem! I did a lot of research on loans and lending before my first purchase. Please feel free to reach out!

@Joey Baghdadi I financed my first duplex with a commercial loan from a small bank local to the property. As this was an out-of-state purchase I was required to find a lender in that area. 

Commercial loans have different terms however, and will likely have a higher interest rate, but they also allow for 20% down which can mean the difference between you being able to purchase a property or not.

A typical loan would likely have a 5/7/10 year term, amortized over 20/25 years, with an interest rate around 5.5-8%. Obviously, there are many options with loan terms and it will depend on the lender, but it can definitely be a great option.

@Zachary Palmer there are so many career avenues within the real estate field. First, I would suggest educating yourself on all of options and decide which career best suits your personality. 

Would you prefer to be in the residential or commercial world? Once you know that, you can begin studying up on the career paths.

I would also highly recommend @Joe Fairless "Best Ever Real Estate Investing Advice Ever". It is a daily podcast with high quality content, definitely worth listening to.