211: Investing in Out-of-State Rentals and Notes with Bob Malecki | Bigger Pockets Podcast

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

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