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

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

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211: Investing in Out-of-State Rentals and Notes with Bob Malecki 01:09:35

BiggerPockets Real Estate Podcast

Shownotes Transcript

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211: Investing in Out-of-State Rentals and Notes with Bob Malecki