What’s the best way to invest in real estate when the numbers don’t make sense in your backyard? Today on the BiggerPockets Podcast, we sit down with Bob Malecki, a real estate investor who started by purchasing local rental properties but quickly shifted gears into two other niches: out of state rentals and mortgage notes. In this episode, Bob explains why he chose to make the switch and walks listeners through the step-by-step process for getting started investing outside your backyard!

In This Episode We Cover:

• How Bob got started in real estate
• What a ROTH IRA is
• What to do when you’ve got a chunk of money to invest
• How to choose the right turnkey company
• Thoughts on using leverage to acquire properties
• Why he decided to transition to notes
• What exactly non-performing notes are
• A discussion on notes vs. rentals
• The risks of investing in notes
• What you should know about due diligence
• Where to find notes to invest in
• The value of building relationships
• What the future looks like for Bob
• And SO much more!

Links from the Show

• BiggerPockets Forums
• Sunwest Trust Inc.
• Notes funds for individual investors. What are the best players? (Forum Post)
• Tax, Legal Issues, Contracts, Self-Directed IRA (Forum Category)
• MemphiesInvest
• RealtyTrac
• WeGoLook

Books Mentioned in this Show

• Rich Dad Poor Dad by Robert T. Kiyosaki
• Equity Happens by by Robert Helms & Russell Gray
• The Magic of Thinking Big by David J. Schwartz
• Secrets of the Millionaire Mind by T. Harv Eker

Tweetable Topics:

• “Nothing in the world is guaranteed.” (Tweet This!)
• “Assume nothing and document everything.” (Tweet This!)
• “If you don’t take actions, you can’t take a risk and you won’t make mistakes. Mistakes are necessary.” (Tweet This!)

Connect with Bob

• Bob’s BiggerPockets Profile
• Bob’s Website
• Email Bob

Learn more about your ad choices. Visit megaphone.fm/adchoices