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 estateWhat a ROTH IRA isWhat to do when you’ve got a chunk of money to investHow to choose the right turnkey companyThoughts on using leverage to acquire propertiesWhy he decided to transition to notesWhat exactly non-performing notes areA discussion on notes vs. rentalsThe risks of investing in notesWhat you should know about due diligenceWhere to find notes to invest inThe value of building relationshipsWhat the future looks like for BobAnd SO much more!Links from the ShowBiggerPockets ForumsSunwest Trust Inc.Notes funds for individual investors. What are the best players? (Forum Post)Tax, Legal Issues, Contracts, Self-Directed IRA (Forum Category)MemphiesInvestRealtyTracWeGoLookBooks Mentioned in this ShowRich Dad Poor Dad by Robert T. KiyosakiEquity Happens by by Robert Helms & Russell GrayThe Magic of Thinking Big by David J. SchwartzSecrets of the Millionaire Mind by T. Harv EkerTweetable 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 BobBob’s BiggerPockets ProfileBob’s WebsiteEmail Bob