Real Estate Investing outside my hometown

[William Morales]

Hello BP

I had bought a property in Pittsburgh (15210 zip code), I live in NYC, bought it for cash, my second deal was a few years later when I did a lease purchase in Orlando, To be honest the lease purchase was much harder, involved trying to find either a lawyer or title company who understood creative financing and trying to convince the seller I'm paying it off with monthly payments, etc , well finally I did find someone who helped me with the paperwork.

So going forward, I'm thinking of purchasing single family homes either with my own money or trying to find private money, the deal in Pittsburgh I'm selling it on owner financing, which I become the bank, I found it much easier for me to buy it outright.

I really like being the bank, imagine not doing any repairs or maintenance! But, I always save most of the cash flow for taxes and insurance just in case the buyer doesn't pay it.  So going forward I'm looking for Single family properties under $50k that's my comfort zone for now. 

Thanks for reading., hopefully I didn't bore you...lol.

[Ruchit Patel]

Are you saying, you are looking to purchase cash flowy properties out of state?

--Ruchit