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Updated over 5 years ago,
First-time opportunities for commercial real estate out of state?
I'm just getting started researching types of real estate, and commercial real estate seems to be the most appealing to me. At least, more appealing than residential multiplexes and SFR. My only real estate experience is buying my own home in the SF Bay Area.
Does anyone have advice for a first-time investor for commercial real estate? In particular, is there a specific type of real estate that can be managed efficiently (semi-active or passive) out of state, as I'll likely have to be out of CA due to the prices.
I was originally thinking 5+ multifamily, but then I saw other opportunities related to mobile homes, retail space, and even storage space. The goal would be to buy and hold for the first time and get some cash flow. Then possibly trade up to bigger and better once I'm more comfortable with the ins and outs of running the investment. Am I getting in over my head?
Thank you in advance!