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Updated 12 months ago on . Most recent reply

Is it all about the money?
I have been searching for my first investment property and am now considering buying/holding and renting out. I live in Southern CA where cost of living is high as is real estate. So, I am considering buying out of state.
Given that I have cash for a down payment and could get a loan for a "cheaper" house is it really the ability to come up with the money that holds people back?
For example, and this is picked at random, this house is $130,000 Kansas City.
- I could easily put down a cash down payment and given my wages in Los Angeles, if need be, pay the mortgage when it is not being rented.
- What are the potential problems other than not being there in person 24/7?
- Am I oversimplifying it?
Thank you.
Most Popular Reply

Need to be in a good location and have good management; otherwise, you will lose money. What you are describing is "buying" rather than "investing".