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Updated about 2 years ago on . Most recent reply

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Mario Fernandez
  • Indio, Ca
4
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is buying your first rental property out of state a good idea?

Mario Fernandez
  • Indio, Ca
Posted

Hi guys. I'm wanting to get started on my first rental property but unfortunately can not afford anything in my back yard (California). was looking into out of state properties around the 80k range (which is the max I can afford if I'm being honest)

taking into consideration if I have a vacancy and my out of state asset turns into a temporary liability while maintaining my current California living expenses 


what are some good prerequisite I should do before i dive in?

is it a good idea for my first rental property to be out of state?

I've been analyzing deals out of state and found a few that can cash flow around $100-$200/month 

Been saving money and living below my means to make this happen 

any information helps 

I'm just trying to sharpen my axe before I cut this tree down 


Thanks 

Most Popular Reply

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Eliott Elias
  • Investor
  • Austin, TX
5,555
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Eliott Elias
  • Investor
  • Austin, TX
Replied

Why is your budget 80 K? Is that your down payment or total cash? Do not buy property out of state if you do not have a rock solid team.

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