All Forum Posts by: Kevin Pfeil

@Andrew Syrios That's some great advice! I do think it's easy to run the numbers and have a property that looks great on paper, but a bad tenant, or team running the property seems like it can devastate things quickly.  If you don't mind me asking, what are some of the things you look for in a team when you invest?

@Donald E Appleberry Thanks for all that info man, truly appreciated. As for now my goal with real estate, it is to go for cash flow, but long term getting into appreciating markets seem like the way to go. Whatever place I do end up getting, I plan to hold onto for a while. The cash I get from the rentals I would like the reinvest into other properties and slowly build up a handful of rental properties.

I totally understand why you fell in love with San Diego, there is something for everyone there. Also I do agree that San Diego is a growing market, so many people moving there, and you sure can do well with the amount of military that rent in the area. Kansas City, MO is one of the couple cities I've been watching/interested in (along with Fort Wayne and Evansville, IN). All those places seem like great cash flow markets. I think have a great team to work with in any market is crucial to your success, so I couldn't agree more with you there. 

Unfortunately I can't put my lodging allowance to a personally owned property, or else I would totally do a house hack. That always seems like the smartest way to go. I actually have never tried out Serrano's, but I do love all the tacos in San Diego and I will be living just a few blocks away from there (on Cortez hill), so I will definitely give it a try! Let me know when you are having those meets up again, I would love to check it out. 

@Twana Rasoul Thanks for the advice! I do love the idea of house hacking, and eventually would love to do it myself one day. Unfortunately right now, for the housing I live in while I am on travel, the money can't go into a property I own. So its great since my housing expense is pretty much nothing (other than what I pay for self storage back in Washington), however I am not building any equity in the places I am staying at. 

@Paul Shannon Yeah before I invest in a market I will need to do some research on specific property management companies in the area. It seems like if you can find a good one, it is worth the money you invest into them and so much more. Smart move managing a couple properties first! What other markets do you invest in?

Hello BP nation,

So I am currently in the educational phase inching closer to the idea of buying my first property. I have listened to over a hundred bigger pocket's podcast (both the real estate one and real estate rookie), read both long distance real estate investing and the BRRRR book, and even made my own spreadsheet so I could analyze deals. I love the idea of the BRRRR strategy, however with my current job, I am never in one place for long. For instance I just came back from Japan for a 5 month work trip, and I am about to travel to San Diego for an 11 month work trip, and I currently live near Tacoma, WA (probably spend the least amount of time home between those two places). At this point I think my only option is to invest in long distance real estate if I want to join the real estate investing club. I don't want bite off more than I can chew with my first deal, so as of right now I think I should stick with just long distance real estate investing with the plan of doing some BRRRR deals down the road when I get more comfortable with owning some properties of my own.

So my question is, what were some of the things you all wish you knew, or glad you had the knowledge of, prior to doing your first long distance deal?

Bonus question, if you had around $80k to work with, how would you go about using it in this situation?

I know this was long winded, and very about me, however I do really appreciate people taking the time to read this and any responses.  

Cheers!