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Updated almost 10 years ago,
Where do you invest out of state and why?
How do I decide what state to invest in?
I am very flexible and love the human race. I do not care if it is in a city or suburban venue. My only real criteria's are at this time. 1. There needs to be a real opportunity based on the AVG metrics for house flipping in the area. 2. A location that bullets are not flying. I am a contractor and very familiar with construction and I seem not to have great difficulty finding great sub lic contractors when needed.
Although I have invested out of state, it was mostly due to circumstances rather than intentions. Fla PA NJ. I would like to keep investing here in NJ in real estate as opportunities allow and I build up my partnerships. (I also have interests in self running businesses here in NJ so I can take the somewhat leap but have reasons to return occasionally) but as the children have grown. I really want to venture out. Beyond the states listed. I have been fortunate that I have seen many parts of the USA and I am thankful/grateful for all it is.
I would like to start investing (SFH/Small mixed use flips only at this point) in other parts of the country. Living in (p/t or f/t) and experiencing these areas as I do so. My intentions would be to flip in a location (do 6 or more flips) for 1 yr then move on ( I would like to keep doing this for at least the next 15 years) . I have my own systems/methods/metrics/algorithms down pretty good and I make money with them. *Not home runs but I hit plenty of singles and doubles.....
I am not a millionaire.. (meaning I do not have a million dollars in singles in my mattress) but I have access to it. I am conservative by nature although many think I take to many risks (again relative term).
So where do you invest outside your home state and why?