Out of State REI... HELP please... Push me in any direction

[Christopher Duron]

Hello everyone. I am new and could use a little direction. I plan on purchasing a property out of state for buy and hold purposes. I am bouncing all over the board with markets, property type, and trying to research every piece of data that goes with making a sound decision.  I would like to get into a small multi-family in a good market and I need to narrow down my focus.  Anyone know of a good market to invest in or any other information I should know?  Currently, I am in research mode and I need to shift into action mode soon.  Any advice is good advice and I will greatly appreciate your time.  

[Jad Boudiab]

Originally posted by @Christopher Duron:

Hello everyone. I am new and could use a little direction. I plan on purchasing a property out of state for buy and hold purposes. I am bouncing all over the board with markets, property type, and trying to research every piece of data that goes with making a sound decision.  I would like to get into a small multi-family in a good market and I need to narrow down my focus.  Anyone know of a good market to invest in or any other information I should know?  Currently, I am in research mode and I need to shift into action mode soon.  Any advice is good advice and I will greatly appreciate your time.  

I'm not sure I like this investing Out of State model right now. Prices are at a peak, and given that you're out of state you will have a disadvantage to the locals. Also consider your exit strategy, what happens if things don't go as planned (which happens) and you want to exit sooner than expected?

I'm all about encouraging someone to invests, but I'm not sure this is the best strategy in today's market. Food for thought.