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Updated over 2 years ago on . Most recent reply
Advice needed for out of state investing
I would like to get some input/advice on what to do next. I currently own a rental with my brother in Oceanside CA which we house hacked for a couple of years, until recently I moved out to purchase my own home. I would love to keep investing here in SD but it is nearly impossible with the current home prices and interest rates. I have also thought about building an ADU on the rental property but I do not want to refinance and pull money out of the current 2.8% loan. I have decided to invest out of state but am in analysis paralysis as to which state/city to invest in. I have about 25k to invest and would like to hear your ideas of what would be the best strategy . I appreciate any input , thank you.
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Quote from @Ivan Luna:
I had to read your post a couple times to figure it out. "SD" stands for South Dakota, but you're in California. I now realize you meant San Diego?
There's a ton of information about other markets that are financially viable for investors and $25,000 could get you started. Look for states that are Landlord-friendly (another way of saying they have fair laws and don't treat Landlords like criminals), growing population, attractive to businesses, good tax structure, and a strong education system that will keep tenants in place for many years. Narrow it down to a city, then neighborhoods, then start evaluating specific properties.
- Nathan Gesner
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