All Forum Posts by: Mike Paolucci

Hey team,

New to real estate investing.  I've had the bug for a while and have read a few books and tried to pencil out the occasional deal, but I'm looking to get more active now that I've gotten to the "some breathing room" point in my career.

Mostly looking to do long term rentals. Probably SFH or duplexes to start. Not entirely clear to me if I'd like to go full BRRR (don't know that the macro situation is good for that strategy right now), but something I could put a little rehab into so I can get immediately ahead on equity would probably be ideal. Wouldn't be opposed to flipping opportunistically if I happened to get lucky with a hot market/great offer, but plan A would be long term rentals.

Really looking to find a good way to get a first property under my belt and learn a lot without risking too much capital.

The wrinkle is that I live in Bay Area CA. Most houses and duplexes here do not seem to be priced to cash flow from my back of envelope math. Plus, prices are high enough that, while I could afford one, it would be a bigger swing than I'd want to take for my first one, allowing for rookie mistakes and etc. If it didn't go well, it would potentially hit me a lot harder than I'd like it to.

The alternative might be to look out of state, but I haven't really found any good advice about that. Seems like I'd be a little bit at the mercy of contractors/vendors/and potentially sketchy property management people, although I'm sure some people have made it work.

To anyone thinking about responding, I'm looking for:

-advice on that in state/out of state dilemna

-suggestions for how to spend the next 100 hours of learning

-and really any advice you might have!!  I'm an open book.

Cheers,

Chris

Edit: About me - I'm a longevity doctor (MD), very much health obsessed.  Relatively new to the Bay Area and very open to Bay Area connections whether actionable or not.

Just wanted to circle back and say a huge thank you to everyone who commented on my post! Your input has been incredibly helpful, and I've been genuinely surprised by how nice and supportive this Bigger Pockets community is.

On a related note, I've noticed areas like Linden, Franklinton, and Whitehall come up quite a bit in discussions here. Based on some data I've looked at, these often seem to be classified as D locations. From an investment perspective, isn't it generally advised to avoid areas with that classification? Curious to hear your thoughts on investing in these specific neighborhoods.

I am a newbie investor looking to purchase my first rental property, and I have been caught between going for a single-family or a multifamily rental. I am scared of servicing two mortgages in the case of a vacancy. I saved up the down payment for a few months and have a few remaining as emergency funds. I would not want to go for the single-family and then run into a vacancy, as I foresee that could happen as one of the cons. How did you all start out? I am basically looking for a cashflow property in the Lehigh Valley or anywhere else, but I would love to visit the property as I am staying in the NJ/NY region.

I am new to real estate investing and I am planning on buying a 100k house in the Cleveland area and renting out to section 8. I don't live in Ohio so I would be an out of state investor. The market around where I live is too expensive for me at the moment. Just want some advice on whether this is a good idea for a first-time investor or if I should take a different direction.

Hey everyone!

Hope you’re all doing well and making strides toward your financial goals!

I’m at the starting line of my real estate and financial freedom journey. I own a home in the San Fernando Valley and recently pulled a $200K HELOC for investment purposes. But to be honest, I’ve hit some roadblocks and lost momentum—procrastination, high interest rates, soaring home prices, and low inventory, blah, blah, blah.. lol—have all played a role.

I’ve been using Redfin, Zillow, Trulia, and Realtor.com to search, and I recently discovered BiggerPockets after attending a local realtor event. My goal with this post is to connect with experienced investors and professionals who can share insights, strategies, and opportunities to help me take the next step.

I’m currently looking at Southern California, Arizona, and Texas (Houston & Dallas) with a target of 8-10% ROI. But I’ll admit, I’m hesitant about out-of-state investing since I’m unfamiliar with rental markets in those areas. Being a dad of 3, a soccer coach, working a full-time job, and being a full-time student can make getting away a little challenging. For those of you in SoCal, you know how tough this market is!

I’d love to hear your thoughts—any advice, encouragement, or knowledge drops that can help me get the ball rolling would be greatly appreciated

Hello BP!

Hoping to get opinions from the community on how they would enter the market and start investing if they were in my shoes:

I have been saving and learning on BP for years, hoping to take my leap into real estate investing. Once COVID hit I waited and was thinking the market would become favorable and I would jump in. That didn’t happen and I’ve been waiting and watching since. I still don’t feel good about buying now with so much uncertainty and high interest rates, however I am at a point where I feel like I need to jump in. I have a lot of free time currently and can dedicate a lot of my time towards real estate.

I have saved around $200k and have family member/partner with roughly $100k. We are looking to partner 50/50, at least in the beginning - so starting with about $300k. I have vast experience in Hospitality and hoping to at some point acquire STR/MTR and apply those skills and knowledge . I am most focused on finding multi family. I'm living rent free currently with family and am ok to do so for foreseeable future.

I am wanting to acquire as much property that is smart for me to do so, with the capital I have on hand. I live in Vancouver WA/ Clark County area and am looking to buy in this area as well as including Portland, Beaverton, Gresham, Ridgefield, Battleground, Longview, Camas and overall surrounding areas. Also interested in Coastal such as Seaside, Rockaway, Canon Beach.

Curious your thoughts on best ways to enter this market and how best to utilize my current saved capital. Also any investors in this area would love to meet and learn from you. Appreciate those I have connected with on BP thus far and your help.

Interested in purchasing my first investment property. I am looking to cash flow a short term or long term rental, prefer with a propertymanager. I am located in NJ but open to out of state purchases. 

Hi everyone,

I am from the bay area and I am trying to figure out how to invest in mid west for cash flow, since bay area is way too expensive. Look forward to connecting with you!

If you could invest in any market across the country, where would it be and why? I’m always curious about the factors that make people decide on specific markets.