All Forum Posts by: Samuel Toma

Hi Amanda,

I’m in a similar boat, living in northern ca. I bought my first property, a condo in Las Vegas a couple years ago, and my second in Fresno last year. I also rent my primary residence. Obviously it would be ideal to invest close to where you live, but I think there are many reasons it can make sense to start out with long distance investing.

I’m still figuring out my strategy but for now I’m planning on buying in lower priced areas that are still good cities and eventually I’ll sell one and use it as a down payment for my primary residence. If you have specific questions, I would be happy to chat. Congrats on getting started!

Hi Carrie,

Looks like you already got a lot of good advice from other replies. I think other factors to consider is where you want to live long term and time frame of when you want to be able to walk away from a traditional job. Something to consider is to start buying houses in places you would like to possibly live one day. If your income allows you to make up negative cash flow for a season, you could potentially buy in a place like San Diego or Vegas or any growing city that will have reasonably moderate appreciation over time in a city you enjoy.

If you know you want to stay in CO, you could look in markets with lower price points just to start collecting properties and at least you have options. You could sell a few years down the road to buy another primary, you could hold for cash flow, 1031 into multifamily, etc. Nothing wrong with buying a lower priced house which cash flows.

I also live in an expensive market so I've chosen the long distance investing strategy with long term rentals. Sounds like you are in a good position so you have options. Good luck!

Hey Allen, I just sent you a DM. I’m looking to continue buying in Las Vegas and am interested in the mid term renal game. 

Hey Adam, 

I live in northern CA and just closed on a triplex in Fresno earlier this year. I would be happy to go into the details/experience with you guys if you are interested. 

Hi Wilson,

I’m in Livermore and bought my first property in Las Vegas a couple years ago and it has been going well. I’m happy to share the details if you want. After doing some research, Vegas is a place that is a quick flight away which has inexpensive properties and a strong trajectory of growth/appreciation for the foreseeable future. However, I want to get into multifamily and have been having difficulty finding good MF  properties there. Good luck!

Sam 

Hey Dan, I live in the east bay and started investing out of state a couple years ago. First property was a condo in Las Vegas and has been performing well so far and I still believe in the long term growth of that area. I’ll send you a dm but happy to share my experience if you have any questions. 

Sam

Hi Taylor,

I live in Northern CA and bought my first property in Fresno earlier this year (triplex). I would be happy to chat and talk about the details/experience so far. I also invest in Las Vegas but recently have been struggling finding a multifamily deal that I like. I have been looking at Columbus or other Ohio markets as a possibility so I am also curious how that has been for you. 

Congrats on your success so far!

Hey Brendan, 

That’s awesome you already have a place for your primary residence. If you are able and willing to stay there for a while and it’s not very reasonable financially to keep buying in your area, I would consider using the methods David Greene talks about in his out of state investing book. I’m renting in Livermore and we chose to focus on investment properties rather than our primary just because it didn’t make sense for us at the prices and our life situation. We bought a single family in Las Vegas and just closed this year on a triplex in Fresno and are still focused on investment properties. I would be happy to chat about the process if you are interested. Good luck!

Hi Alexandru,

I am curious, is there a specific reason you would like to buy in the LA area? Are there factors that require you to buy in that area such as you want to manage it yourself or want to househack? I know your area a bit because I grew up in Orange County but now I live in an even more expensive area in northern CA, so I understand where you are coming from. Interestingly enough from the above comments, I have purchased two investment properties in the past couple years and one has been in Las Vegas and one in Fresno because it just did not make sense to buy in the area I lived in at the time.

If you are willing to invest out of your area, you may find it is much easier to get into a property and the numbers look a lot better. But again, not sure if you would like to keep your investment in LA for a specific reason. Good luck!

Hey Anthony,

I’m still new myself and also live in an expensive part of CA (Livermore). But I’ve purchased two investment properties in the past couple years and one was out of state (Las Vegas) and one was in Fresno, which you mentioned. I would be happy to chat if you have any specific questions!