Live in FL But Interested in Investing in Midwest

[Evan Oaks]

Hello BP Community! I am seeking out advice on how to get started in Real Estate Investing. I'm retired military who currently lives in Palm Beach County. For years I have been wanting to get started in Multi-Family Investing. The house hack and using my VA entitlement won't work because I have used that on my current home. The reason I'm interested in the midwest is because it is cheaper than Florida, but if I could find the right deal in Florida it could be an option.

Any advice, suggestions, or comments would be greatly appreciated.

[Account Closed]

Hi Evan, 

Investing out of state is a valid option for many that live in expensive markets. To successfully execute this, you'll need to do some research and develop a core 4- lender, contractor, agent, PM. If you can build a good team with strong knowledge of the market, you will be successful. Consider investing in Ohio, with lower entry points and a favorable price:rent ratio. Here in Columbus, we have a great mix of appreciation and cashflow, and I also see a lot of investors getting good cash flow in Cleveland.