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Updated over 1 year ago on . Most recent reply

User Stats

4
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9
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Gordon Cai
  • New to Real Estate
  • Rocklin, CA
9
Votes |
4
Posts

In-State Vs. Out of State for First Property (Main Goal is to Learn with Min Losses)

Gordon Cai
  • New to Real Estate
  • Rocklin, CA
Posted

Hey BP. I'm trying to get my first deal done but can’t decide whether to start off in-state or out of state. My primary goal for my first deal is to learn as much as I can but due to how expensive homes are in California, it’s hard to learn without putting too much on the table. I have read Long-Distance Real Estate Investing by David Greene, but I’m still worried that by investing out of state I wouldn’t be able to learn as much about renovations vs in state.

If my end goal is to invest out of state, should I just do that to begin with? Will investing out of state negatively impact the learn experience for my first deal, specifically the renovation aspect?

Most Popular Reply

User Stats

314
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272
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Daniel McDonald
  • Real Estate Agent
  • Beverly, MA
272
Votes |
314
Posts
Daniel McDonald
  • Real Estate Agent
  • Beverly, MA
Replied

I think you answered your own question. In state vs out of state is going to be different learning. I have two duplexes locally that I self manage and maintain (1 I am house hacking). I've learned hands on project management skills. I am also looking to invest out of state and I am learning different things like building a team you can trust. The majority of my work will be up front then a PM would likely take over. Different set of skills but if you're planning OOS anyway I'd say just do that. Who cares if you learn how to self manage in CA if that's not a goal anyway. 

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