All Forum Posts by: Luke Andersen

Hi community, thanks for your time. I'm new to the REI game and wanted to pick your minds. I'd like to start investing locally in San Diego (LTRs or STRs), but interest rates & prices seem to be pretty high right now and I don't have a lot of starting capital so it's a little intimidating. What would you recommend I do?

Thanks in advance. 

~ Luke 

Wow, you guys really showed up and helped! Thank you ALL for your insights and responses. Seriously. 

@Mel Hayes I do own my main residence. 

@Account Closed Thanks for your feedback. Why not Texas? 

@Angela Yan Thanks Angela. Happy that you're finding success in Ohio. Ohio, especially Columbus, seems to be a common denominator in a lot of recommendations. 

@Seth Bender Great advice Seth. I've started my list of places I'm considering. And you're right - while "investing in my own backyard" would be ideal, investing out of state would be easier to get started and have less barrier to entry compared to SD. 

@Michael Sweet Try Mashvisor.com. It costs money, but there is a free trial that should do what you're looking for. 

@Marianne Lopez-Henthorn Thanks Marianna. Currently reading Long DIstance RE Investing. Awesome so far. :) 

Thanks again BP community. I'll do my best to keep you all updated on my journey. God bless. 

~ Luke 

@Matt Lyons thanks Matt. Looks like you've figured out a good system for doing RE "Part time". 50 doors is impressive. That property has been on the market 183 days. Wonder why no one's grabbed it. 

Thank you all for your responses. @Dave E. I've looked into lots of markets and it seems like there are more cash flowing deals in places like Texas, Florida, Ohio etc. I'd love to get into a market with lots of property options so I can scale and retain the property management and contractors. Long distance investment is a little daunting, but I'm game for the challenge. 

Thanks @Matt Lyons. Sounds like you got some killer properties. Great work. My goal is to grow passive income by purchasing single family properties (eventually multifamily) and holding. I have about 150k budget to invest and I"m looking for 10-15% cash on cash returns. I'll need a property manager because they'll be long distance. 

Thanks Twana. Yes, I'd agree in the long run SD is great. But I don't want to start out with negative cashflow. It's pricey and highly competitive. 

@Eric James I'm born and raised in San Diego, CA. Don't know any other areas very well, but willing to learn. Any suggestions? 

I'm very excited to start my real estate investing journey. I'm currently making the big decision of where to start though. I've heard places that states like Taxes, Ohio, Florida have great ROI and affordability. If you have experience in any of these markets or know of any recommendations I would be grateful. Thank you!

~ Luke 

@Chelsea Gatewood Great work Chelsea. If your willing I would love to see the doc your creating as I’m in the same process you are. Best of luck. :)