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Updated about 9 years ago, 11/02/2015

User Stats

38
Posts
5
Votes
Lenin Belangonda
  • Corona, CA
5
Votes |
38
Posts

out of state investment in multifamily house

Lenin Belangonda
  • Corona, CA
Posted

hi

I own a single family rental property in southern ca.  I have been doing it just over a year and that gave me little confidence to explore investing more.  I am thinking of buying 2-4 units in phoenix, az.   I have a friend living there who can help me with occasional visit if I need to check out anything.  But I have to hire a good property management.  This is where I am being cautioned by everyone I have been discussing this idea.  It seems impossible for a newbie to find a good property management. 

My plan is to take cash out of my house and put it as down for this investment.  I started working with some agent for refi and i might be able to get pre qualification.  The math seem to work ok but big variable seem to be property management. 

So far the advice I have been getting are all pretty discouraging.  So wanted to check with some experts here.

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