First time home buyer

[Jerell Edmonds]

Hello Everyone! Im a newbie looking to get into the world of real estate investing. I currently live in RI. The house prices seem a little too high for my comfortability to begin I mean I don't mind because I know how LTR work for multi family. But my question is I've been doing some research out of state an Ohio seems like a decent area. Im looking in the Toledo & Cleveland for MF. I do have another partner involved with the goal of building an amazing portfolio of multi family for LTR or even SFH with LTR . We want to build a passive income so we can leave our w2. We're looking to scale quickly we do have a decent amount of funds saved up. We also have maybe 80k in available lines of credit I know thats not the best way but that's in reserves for us . Cash flow isn't the most important thing at the moment for us but ofc its a plus its more about getting started and building we both understand money will come. Would investing out of state be the best way to start or to jump into in your home town? Any advice would be greatly appreciated.

[Tim Johnson]

@Jerell Edmonds Obviously no "correct" answer here. My 2 cents: start close. Unless you have a team of partners on the ground in OH, that's a long ways from RI to run into troubles. Every market will have deals (maybe not on the MLS) if you dig deep and make connections with people. You'll scale up quicker (in both properties and funds) if you find a great deal close to home to get rolling.