In state or Out of State investing

[Marlisa O.]

Hi, I am about to start investing in real estate. I live in San Diego, CA and the cost of living is way higher than most states. For those who live in California, how much do you recommend my first rental property should cost. 

I also plan on buying rental properties in Arizona. I have been told to start with the state i live in because i can keep an eye on it. If there is anyone here that has rental properties in other states, please give me some tips. Thank you

[Account Closed]

Marlisa, 

Like Gerald stated, I'd suggest that you conduct more research on the market you're going to be investing in. 

When I first started out investing in real-estate years ago, I had 23 of 50 rental properties that went vacant. I then gained a full comprehension as to the complexity of being a landlord. I wish someone had educated me that it's better to be a lender than a landlord. 

Good luck with everything!

Barry