All Forum Posts by: Marc Edwards

Hello @Alexander Knox, 

First off I believe you are in a decent spot or at least better then most that jump in to investing in Real Estate. You are also at the right place as there are so many knowledgeable people in this forum. Seems like you already know what you want to do since you are wanting to invest now as opposed to waiting to save for a more expensive home down the road. Option 1 seems to be where you are heading but you have to do what you feel in your gut no one is going to be able to make that decision for you but there is nothing wrong with picking peoples brain on your scenario.

I think it all depends on what you want to do and if you want to actually move or not. I don't believe either option is a bad idea. Of course the first option has a little more risk involved as it is out of state and option 2 as Jake stated you could house hack a duplex but not sure of Seattle's market to know how affordable it is to purchase a decent one as you stated it might not get you far there. I'm form Kc and our market is getting very hot for out of state investors as your money goes way further then in some big markets. As you probably were already informed by your connection here. Hopefully your connection has a good network here to help you with everything that you need to be comfortable with investing out of state. I wouldn't mind being a connection for you here as well and answering any questions that you may have just send me a pm. I do know that in Kc,Ks you would be able to put that down on a nice duplex and it could be cash flowing well or you could buy a SFH out right but then you wouldn't have any leverage with the bank just a home with equity and cash flow. Just depends on your overall goals cash flow, leveraging to acquire more properties sooner or buy and hold for long term.

Hopefully you get some more responses that help and hope this helps. At the end of the day you have options and it's always good to have options. I just recommend sleeping on it and take the advice given and then trust your gut and jump!!

@Haley Powell I believe you are taking the necessary steps to get closer to your goal and that's the main thing. Your on the right track! 

@Karl B. Larger multi-family sounds nice and you for sure don't want to rush into that, I totally understand we can connect. The Lake of the Ozarks is a very cool place and is very popular in the spring and summer months. One of my goals is within the next couple years to acquire a vacation rental in that area!!

There has been a lot of helpful replies in this thread. @Haley Powell like a couple have said sometime you just have to take that risk and just "JUMP". I'm here in Kansas City and our market is super attractive right now. Especially to out of state investors because your money can go so much farther than in most big cities. Our low unemployment and job growth is something else that makes our economy attractive not to mention the strong rental market. I know you have options and I just want to say just like others have stated go easy with whatever your first deal is don't go for the home run on your first deal. However if you're on the fence about Kc I can tell you that you can't go wrong here. Also no matter where you look and invest make sure you have a good resource person on the ground working for you. Such as a good agent or just someone that has connections, someone who is a good communicator because that is important. If you find yourself a good one they should be able to connect you with everyone that you need. Contractors, lenders, property management you name it. I love working and helping out of state investors. I just found one of my out of state investors a cash flowing SFH in a weeks time. I love what I do pm me with any questions I love talking real estate!!

Hello guys welcome to Missouri!! I would love to speak with you guys and see how I can help. Having a good resource guy in the area helps to get deals moved. You should get a good realtor/resource person to help with getting some thins done. He or she may not even need to be a realtor just someone that has a good network in the area you are working. Someone that can help when it comes to estimates/bids, comps and things of that nature. In this business contractors and others can take advantage of newbies so to be able to have someone that can steer you in the right direction or tell you yay or nay when dealing with certain people helps a lot and can save you some money!! I started out as a wholesaler myself before I received my license, now licensed in MO & KS and have a lot of connections with wholesalers and buyers in the area. I wish you guys the best and a lot of success here in Kc!! Pm me anytime with any questions

Hello @Nick Elg I am an investor/agent here in the Kansas City area. I do have a good network base here especially since I'm born and raised here and started out as an investor/wholesaler myself. I would love to learn more about what you do and see how I can help. Pm me and we can chat!

 Everyone has given you some awesome advice @Christle Stezskal. I second @Nathan Brooks and @Kim Tucker there are some great real estate meetups that are here in the area and they run the top two and you can even join them via fb to learn and network. They are both great resources here In our lovely city and I love what they both do. I just wanted to add that you do need a good Realtor on your side, that is very important as you move forward with out of state investing. Interview a couple and make sure you pick one that has a good network on the ground and it looks like you are leaning that way so that's a great start. A good realtor/resource person on the ground means everything and is just as important as your property manager. If you find a good agent they can and should be that resource for you that connects you with all the right people. Also make sure they are good at communication as that is important and vital!! Good luck with all your endeavors and feel free to reach out anytime!

Sure no problem and yes more companies and some big ones are setting up shop here. We are sort of similar to Detroits market except ours I would say is more thriving even though I'm sure I'm a little biased. But I believe its because our economy is more stable than their's but I have heard Detroit is a good place to invest. I think you're onto something no matter what market you're in or start in the hardest part is just starting.

Hey Nick, as stated before meetups is where its at and of course this forum. There is tons of knowledgeable people in here just keep asking questions and interacting. I'm in the Kc market and it is a great market for buy and holds and investing with our low unemployment rates and job growth. Pm me anytime with any questions that you may have. Good luck with your real estate journey you are on the right track my brother.

Pm me I know of a couple that may be able to help. Just want to try to give you a couple of options.