Buying a rental out of state

[Bryan Gwin]

Hi,

I was wondering if anyone has advice on getting cheap rentals out of state? I have read a few of these posts and most people argue that you don't need to buy out of state, but I live in WA and the market is quite high.  I was looking into the Birmingham area and it seems like you can find nice houses for quite cheap, some that already have tenants (Finding houses around 50-70k renting around $700/month). I have about 70k cash but am willing to take a loan if the cash flow makes sense. Anyone have any recommendations or ideas? 

Thanks,

Bryan

[Alvin Sylvain]

Originally posted by @Bryan Gwin:

Hi,

I was wondering if anyone has advice on getting cheap rentals out of state? I have read a few of these posts and most people argue that you don't need to buy out of state, but I live in WA and the market is quite high.  I was looking into the Birmingham area and it seems like you can find nice houses for quite cheap, some that already have tenants (Finding houses around 50-70k renting around $700/month). I have about 70k cash but am willing to take a loan if the cash flow makes sense. Anyone have any recommendations or ideas? 

Thanks,

Bryan

Purchase David Greene's book on this topic. Or stick around, maybe he'll do another webinar. There may be a forum dedicated to that, not sure.

Also, if you a particular market you're interested in, e.g., Birmingham, search for a forum dedicated to investing in that market. You probably won't get better advice than people who actually live and invest in the area you're interested in.