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Updated almost 9 years ago,
Living in California and seeking to purchase out of state
Hey BP!!
I'm sure this topic had been discussed multiple times but what is the process and criteria for someone who is starting out in REI to invest in properties that is out of state? I have a primary residence house here in California l and looking to purchase a multi-family home hopefully a 4-unit complex to get a a cash flow of at least $100/unit return after all expenses have been paid. The reason I ask about out of state properties from where I live is because properties in California are ridiculously high and as I'm trying to invest my first investment property alone, I don't have that much money to put on my down payment. Also, I'm looking into creating my own LLC. If anyone can give me any insight to the Benefits or downfalls of using a LLC to purchase an investment property. I know my questions are pretty generalized so if anyone needs any additional info or clarification, let me know! Thanks guys!!