Narrowing My Focus Area

[Rick Schneeberg]

Hi Everyone,

I'm considering getting into REI and have been reading books (Investing in Real Estate by Gary Eldred) and BP including the Ultimate Beginners Guide (great primer, thanks for putting together).

I would like to buy and hold cash flowing properties however the eastern MA market is tough as prices are high. I’m established in my house/town with a family so a house hack is not a possibility unfortunately. 

I can bring about 30k to make a down payment and planned to work with a PM regardless of where I invest. I’m considering between Manchester, NH where I’ve seen 3 family places between 400-500k which would mean that I would need to partner with someone to get started or investing more remotely where I could start with 30k as a down payment to buy something in the 120-150k range.

I’m looking for advice from the community on the challenges of investing remotely (Manchester is about an hour drive for me so not too remote vs investing in a favorable market further away). Also if I’m considering remote investing, which are good markets in the US to research for potential investments? 

Thanks for your advice!