Out of area markets

[Larry Littrell]

I currently live in a "bedroom community" located about 20 miles from Seattle. The market here is pretty crazy. Multiple offers, houses selling for more than asking price. Even houses coming in below appraisals and buyers paying the difference.The price point of the houses isn't great either with "fixers" from 150k and up. I have been thinking about other markets and have 3 in mind.

1. About 1.5 hours from my house. Some deals to be had. Slightly lower prices. My daughter and son-in-law live here. They would help.
2. About 2.5 hours from my house. Substantially lower prices.Stable market, houses from 30k.
3. About 3.0 hours from my house. Homes from 60k. In the area I would like to retire in.

My plan is to fix and flip to pay off the rest of my debt then continue to fix and flip to finance my buy and holds. I would be able to get more houses for much less money with less competition in these other markets.

I have begun moving toward my first purchase and am learning a ton from this sight!