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Updated about 1 month ago on . Most recent reply

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Isaac Terry
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7
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Investing Out Of State - Starting

Isaac Terry
Posted

I was looking at homes in Akron & Clevand, they are affordable but since I'm out of state I'm not sure about pulling the trigger on investing. 

Any advice regarding the pros and cons of these two cities? And would it be worthwhile investing to rent?

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453
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Nadeem Alamgir
  • Real Estate Agent
  • Cleveland, OH
371
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453
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Nadeem Alamgir
  • Real Estate Agent
  • Cleveland, OH
Replied

I agree with what Sofia said. It's a market that fits a lot of out state buyer's buy box due to the price-to-rent ratio, but investing out of state is not easy. I found investors to do well when they already have experience in their local market. (I know everyone doesn't have that opportunity.)

Another factor is the type of deals you're looking for. If you're looking to do value-added deals out of state, you're decreasing the chances of having a successful experience. I think new investors heavily overlook the skill component needed to successfully pull off a renovation to then rent out properly.

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