Discovery: I found this property through a local wholesaler specializing in off-market deals.

I’m Monica Bynum here a local agent in Memphis, Tn.

I put my money where my mouth is on this.We lend our own hard-earned money to local real estate investors.

Investors allow them to help because they are local but the truth is that they have no idea how to manage a rehab.

I call them in-between because they are conferences, so not like your local meetups, but they are not truly "industry" conferences like NMHC, where you will meet primarily career, corporate multi-family people.Bigger Pockets Conference and Best Ever Conference are two that likely would cater to people more in your position.  

I also personally know students who have worked with Lee Arnold in my local area.

Hi all, I am familiarizing myself with at the Albequerque market and wondering whether any local investors can shed some perspective on overall property values relative to rents in the area.

@Joshua Piche with little experience, it's better that you invest locally vs OOS - unless you want to invest a LOT of time learning another market and networking with th right people.Locally, look for a 2-4 unit property that will qualify for FHA 203(k) financing. - This will allow low down payment and the 203(k) allows repairs to be financed into the purchase mortgage.- The 203(k) will allow you to bid on properties that need repairs that won't qualify for a traditional mortgage => less competition => better purchase price.You will need to find a great local contractor you can trust to supply the required bids to qualify for the 203(k).- After closing, you can do some of the work yourself to save money, but the program doesn't allow you to pay yourself.You will want to buy a Class B property, maybe Class C+, in an area that seems to be improving.

Detroit is very much a block-by-block city, so having local knowledge is absolutely critical.

You must hire locals who are familiar and acclimated to the culture of the city you plan to create rentals in.