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Updated over 4 years ago on . Most recent reply

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Frank Redman
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Buying your first deal out of market

Frank Redman
Posted

I currently live in the Boston area and I am looking to make my first rental purchase within the next 12 months. But with the Boston area being so expensive I would likely have to save for a few more years before I'm able to have the down payment I need. Because of this I have been considering buying in the cheaper Columbus Ohio area where I attended college. I was just curious to see if the community thinks that a beginner buying out of market is a bad idea. 

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David Barnett
  • Rental Property Investor
  • Cambridge, MA
415
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David Barnett
  • Rental Property Investor
  • Cambridge, MA
Replied

@Zeke Liston A little north and to the west of Columbus (Minneapolis/St. Paul - Twin Cities Metro).  The other thing that I think is a consideration is are there direct flights from where you live to the market that you are choosing to invest?  I find it extremely important (pre-COVID) to be on the ground at least a few times a year, ideally, quarterly.  I always learn a ton being in the market and seeing (and hearing) directly from folks that live in the market on a day to day basis.

  • David Barnett
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