73: Investing in Rental Properties When Your Local Area is Too Expensive With Mehran Kamari
Today on the BiggerPockets Podcast we are excited to welcome back a repeat guest coming to us from The Los Angeles area!
We first met Mehran Kamari in the newbie podcast back on show 025, where he took us through the process of his first out-of-state deal, and… well, a lot has happened since then!
Since his last appearance, Mehran’s business has blown up – just completing the purchase of his 10th property!
In today’s show, Mehran teaches us how to successfully invest out-of-state when your local market is too expensive. He goes into detail on how to use BiggerPockets to find out-of-state partners, what due diligence you need to do, who you need on your team, how to overcome fear and much, much more!
If you are in a market where the numbers just don’t seem to work, then this Podcast is for you!
In This Show, We Cover:
- How to use real estate to quit your job, the smart way!
- How Mehran invests in real estate from 2000 miles away
- How to use BiggerPockets to invest in markets you are unfamiliar with
- Using tools such as Google Maps and Google Docs for real estate
- Joshua Dorkin used to be an actor!
- The importance of mindset and integrity
- Leverage is a tool!
- Making sure you vet out-of-state property management companies the right way!
- What’s involved in out-of-state due diligence
- and much, much more!
Links Mentioned
- BP Podcast 029: Using Peer-to-Peer Lending to Finance Deals, Cash Flow, and Fix and Hold Investing with Dawn Anastasi
- BP Podcast 063: Automating Your Investing, Long Distance Rehabs and Spec Building with J Scott
- HipChat.com
- Real Estate Rewind [A BiggerPockets Community Book]
- Google Map View of Detroit back in 2008
Books Mentioned in the Show
- How I Turned $1,000 into a Million in Real Estate in My Spare Time by William Nickerson
- Success Mastery Academy by Brain Tracey
Tweetable Topics
- “To be honest I wouldn’t invest out of state unless I had a partner with boots on the ground.” (Tweet This!)
- “You are the average of the 5 people that you spent the most time with.” (Tweet This!)
Connect with Mehran
- Mehran’s BiggerPockets Profile
Learn more about your ad choices. Visit megaphone.fm/adchoices