Saving Money to DIY Could Be Costing You Deals

Greg and Nate go solo for this one, breaking down the question almost every new real estate investor gets stuck on, whether to buy in your own backyard or go looking for cash flow somewhere else. Between them they have local rentals, an out of state turnkey property, and a LoanBidz client base that runs from California investors buying in Ohio to operators scattered across the Midwest. They cover what you actually gain by walking your own properties, why an out of state deal makes the team a non negotiable from day one, how a turnkey provider handles repairs without ever calling you, and the limiting belief that quietly stops local investors from buying their next property. If you are staring down your first deal and stuck in analysis paralysis over the location question, this is the conversation that unsticks you. Timeline Summary [0:25] – Greg and Nate go solo to break down in state versus out of state real estate investing [1:12] – Who they see doing both, including California investors buying cash flow across Ohio and the Midwest [1:35] – The case for local, you can do everything yourself at first and build the team as you go [2:52] – Why local means less upfront planning, and how you learn what to outsource by doing it wrong first [4:07] – Walking your own property teaches you to read tenants and catch the pulse of a place [5:14] – Why out of state makes the team non negotiable, and why conferences are where investors build one [5:40] – Cleveland, Toledo, Birmingham, Saint Louis, chasing cash flow where values are lower and rents hold [6:26] – Cash flow first, appreciation later, and why preserving liquidity matters most early on [7:17] – How their turnkey provider rehabbed the property, sold it, and still manages it today [7:56] – The pre authorized spending threshold that keeps small repairs off their phone entirely [9:11] – A hard warning on vetting turnkey companies, because not everyone is handing you a good property [9:47] – The gaming outlet on the left side of the stud, and what you lose when you cannot walk the job [11:19] – Paying a property manager 8 to 10% in a month where nothing happens, and why that stings locally [12:05] – The limiting belief that you could just do it yourself, and how it blocks the next purchase [13:15] – Decision overload means no decision, and why a good advisor cuts ten options down to two [16:32] – The realization on air, more peace of mind on the out of state property than on the local ones 5 Key Takeaways 1. Local Buys You Optionality — In your own market you can swing by, meet the electrician, and read the tenants yourself, then hand pieces off as you outgrow them. That flexibility is real, and it is why most first time investors should probably start close to home. 2. Out of State Means the Team Comes First — There is no version of out of state investing where you figure out the team later. If you do not have a property manager, a plumber, an electrician, and a roofer lined up before you close, stop. Do not pass go. 3. Turnkey Works, But Vet the Operator — Their out of state provider rehabbed the property, sold it, and still manages it with a standing authorization to handle anything under a set dollar amount without calling. Plenty of investors have had the opposite experience, so the quality of the operator is the whole deal. 4. The Money You Save Is Costing You Deals — The thought that you could just do it yourself is a limiting belief with a price tag. Refusing to hire a property manager because you would forfeit 8 to 10% is the exact thing keeping you from buying the next property, which would have more than covered it. 5. Peace of Mind Is a Return — If you wire the outlet yourself and then lie awake at 2am wondering whether you started an electrical fire, you did not save money. Overpaying slightly for someone whose expertise is unquestioned buys back your attention for the work that actually grows the portfolio. Links & Resources • LoanBidz, for help funding your next deal — https://loanbidz.com Enjoyed This Episode? If you have been telling yourself you cannot afford a property manager, go back to the twelve minute mark and sit with what Nate says about the money he thinks he is saving. It is the most honest thing in this episode, and it is probably costing you your next deal. Send this to the investor you know who is stuck deciding where to buy, then subscribe, share it, and leave the Deal Vault a review. And if you need funding on that deal, holler at the team at LoanBidz.