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Updated over 7 years ago,
New Investor in NYC Looking to Invest Out of State
Hello everyone,
I've just recently got into real estate investing. I have been mostly doing research on different areas to invest in and educating myself.
I currently own two properties in NYC and became a landlord by accident. When I decided to begin my journey as a real estate investor, I quickly realized it would be too difficult to invest in NYC. So I started looking into places like upstate NY, Baltimore, and Philly. Recently I learned from a podcast that some states are more landlord friendly than others, states like Texas, Indiana, and Colorado. Since I plan to hire a property management company so I don't think the distance will be an issue.
I would love to get some advice on how I can proceed from here. Should I go visit those states to check out the neighborhoods? Should I do some more research on those areas? If yes, what should I focus my research on and how long should I do that before I visit the area? Or should I continue looking into the areas close to where I am?
Thanks in advance!
PS: I'm currently looking to join an RE investment group in the NYC area to expand my knowledge. Would love to hear what are some good ones to join! :)