Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 12 months ago on . Most recent reply

User Stats

7
Posts
4
Votes
Lucas Moncada
4
Votes |
7
Posts

Is it all about the money?

Lucas Moncada
Posted

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

User Stats

4,908
Posts
13,015
Votes
Mike Dymski
#5 Investor Mindset Contributor
  • Investor
  • Greenville, SC
13,015
Votes |
4,908
Posts
Mike Dymski
#5 Investor Mindset Contributor
  • Investor
  • Greenville, SC
Replied

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".

Loading replies...