Buying Out of State

[Dan Williams]

Hello, My names Dan, I'll be 21 in a couple months and I live in Newport Beach, CA. I've been looking to buy rental property's for a few years now and finally started diving into it recently.

Houses here are at least 650k to 2mill and I don't know of any investors willing to put up 100% financing for homes like that to a rookie REI. Even if I did get one, the rent wouldn't cover the mortgage. High rollers here want to buy, not rent. Unless you get beach front property for the "out of towners".

Anyway, I've been looking at property in Texas around the 100k and under range and wanted to know how I go about buying property out of state?

I have a handful of knowledge about REI and maybe I might be missing some possibilities that are right here in my backyard but I wouldn't know. If you have any ideas or anything like that, that'd be awesome.

Thanks for the help.

[Joshua Dorkin]

On looking for investments out of state, I urge you spend twice the time researching the deal. Investing long distance can be extremely challenging, and I do not recommend it for new investors.

You become reliant on too many other people, and when things are out of your hands, control becomes an issue. There have been many threads on the site discussing this issue because as you said, it is difficult to get in to some markets.