73: Investing in Rental Properties When Your Local Area is Too Expensive With Mehran Kamari

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 5 June 2014

⏱️ 64 minutes

🔗️ Recording | iTunes | RSS

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Summary

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

Transcript

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0:00.0	This is the Bigger Pockets Podcast, Show 73.
0:04.0	You're listening to Bigger Pockets Radio,
0:07.0	simplifying real estate for investors large and small.
0:10.0	If you're here looking to learn about real estate investing without all the
0:14.2	height, you're in the right place. Stay tuned and be sure to join the millions of
0:19.2	others who have benefited from bigger pocketsPockets.com.
0:22.8	Your home for real estate investing online.
0:25.7	What's going on everybody?
0:26.7	This is Josh Dorkin, host
0:28.6	to the BiggerPockets podcast
0:30.4	here with my co-host Mr Brandon Turner.
0:34.4	What up Brandon?
0:35.3	Hey Josh, it is good to be back home again.
0:38.0	I was out on the road the last week.
0:40.2	Oh, that's right, that's right.
0:41.5	Yeah, you were cruising, man. You want to hear a crazy story? I never even told you this story. I don't think. Oh, I sent you a picture. Anyway, so you with like the moose? The wolf. The wolf. Oh, yeah. All right, so real quick real quick everyone so I went to this place called
0:53.5	Bear Country USA it's in the Black Hills of South Dakota and they got it's like a
0:57.8	drive-through zoo kind of there's like hundreds of bears that just won't walk around
1:01.5	anyway there's a wolf that was in there as well and we're driving through with you know tons of cars just driving through but my dog was with me and he was in the car and the wolf smelled out my dog and then tracked us and circled our vehicle for like an hour and a half the entire drive through the place and like started like jumping on the car and it was probably the coolest experience of my life seeing this gigantic wolf so I'm gonna put a video actually I think I have a. I'll put a video on the show notes page of this wolf like jumping on the car and yeah it's pretty cool.
1:27.4	So anyway sounds like fun to me.
1:29.0	Yeah it was awesome show knows bigger pockets. com slash show 73 check it out
1:34.0	awesome awesome now that's cool man that's very cool well I hope you had a good trip and and it's certainly nice to have you back
	...

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