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Updated over 4 years ago, 03/31/2020

User Stats

32
Posts
17
Votes
Rochelle Duong
  • Lakewood, CA
17
Votes |
32
Posts

Newbie interested in out-of-state Investing

Rochelle Duong
  • Lakewood, CA
Posted

Hello there!

I'm currently looking to get my foot in the door regarding investing out of state. I currently live in a very expensive market (Los Angeles, CA), and recently just paid off all my student loans, have a stable income, and excellent credit. I still live with my family, and our house is paid off, so I currently don't owe anything. Generally, my next steps include saving up and doing research on various investment opportunities out of state (i.e. Nevada, Florida, Michigan, Arizona), networking with local real estate investors/agents, and taking a couple trips to survey properties once I have enough saved up. Does anyone have any further insight on this? 

I've been listening to David Greene's audiobook on investing out of state, and listening to a few BP podcasts for inspiration and insight. Wanted to be more active on BP now that I got one financial hurdle out of the way.

So far, I reached out to a lender regarding what type of loans I could be pre-qualified for, and from my understanding, this shouldn't affect my credit score. Should I talk to several banks to see get different pre-qualification rates? 

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