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Updated over 5 years ago on . Most recent reply
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Out of state investing
Hey BP world I'm a first time investor and I live in Southern California. I have been actively looking for properties here for about 6 months. I'm not having much luck, don't get me wrong there is plenty of inventory; single family homes and multi. The problem is the price of everything.... the rents won't cover the mortgage or it's priced so high for such a small return I don't want to touch it. Another thing I'm taking into consideration is the length of time I've been searching, I know six months is relatively a short period of time......
That being said, I have started looking out of state. I have found a market I'm interested in..... Cincinnati OH. The price's of the 2-4 units are well within our price range, and I believe I can get the return/ cashflow I am looking for. I know there are many challenges of a long distance landlord, I believe I can make it work....
I'm open to anyone's opinion, advice, and input
Thanks
Most Popular Reply
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Thanks James Wise, I have spoken with a PM group in the area and they did explain this to me. They did put me in contact with a realtor on their team.... hopefully in the next month we can lock a property down.