All Forum Posts by: Yury Krytsyn

Hi BiggerPockets community,

I recently got interested in real estate investing as a way to build long-term wealth and create more financial freedom for my family.

I’m still very new to this. I’ve been reading, listening to podcasts, and trying to learn as much as I can. My plan is to start small, but take action soon.

Ideally, I’d like to invest locally here in NorCal since I live here and understand the area. But let’s be real — the prices in the Bay Area are just too high for my current budget, which is around $150–$200K total (including rehab if needed). So now I’m looking into out-of-state options.

I’d love some advice on a few questions:

1. Which state or city would be a good place to start with this kind of budget? I’m open to BRRRR, long-term rentals, or maybe small multifamily.
2. What are the biggest challenges or risks I should watch out for as an out-of-state investor, especially as a first-timer?
3. Do I need to create an LLC for each property, or can I keep them all under one? Is there a better way to protect myself legally?
4. Should I register the LLC in California, in the state I invest, or maybe a place like Wyoming that’s more business-friendly?
5. How do I find reliable property managers, real estate agents, and contractors in another state when I don’t know anyone there?
6. What are the best tools to research and compare markets from a distance? I know rentometer.com, BP tools, Zillow, Redfin. 
7. For a first property, would you recommend a single-family home, duplex, or triplex? I’d love to hear what worked for you when you started out.

Any advice, insights, or personal stories would really help. I’m excited to take the first step and appreciate any help from more experienced investors here.

Thanks.