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Updated almost 8 years ago on . Most recent reply

Investing out of state, would you do it?
I live in San Diego, CA and have been looking for options locally but the numbers aren't adding up to my planned budget. I have been looking out of state at cheaper multifamily homes and those seem to bring the cash flow I am looking for. If you were starting out would you try to invest out of state, and if so what are some things to look for?
Most Popular Reply

@Brandon Vannier I have been investing out of state for close to 15 years (full disclosure I do it for a living and assist others). I live in OC CA now, SF Bay before, and in Europe before that. I started investing in 2002 While living in Europe (talk about "out-of-state" :-) )
The way I go about it - first myself:
What's my budget
Will I be using cash, cash + a mortgage, etc.
I'd list down my top/main concerns
Second, I like to look at metros that are:
- 1.5MM and up population
- Growing metros in jobs and population
- Multiple industries present in the metro (diversification)
- Rent-purchase price +/- 1%/per month (a $150k house should rent between $1350 to $1500/ mo)
Once I find that metro start looking at houses BUT first make sure I know how to fully evaluate and financially analyze property.
Hope this helps some
Good luck
Dani Beit-Or