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Updated about 3 years ago,

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Kenneth Rose
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Should I focus on finding my first investment out of state?

Kenneth Rose
Posted

Hi Everyone - I am new to Bigger Pockets and looking for some advice. Hopefully, this is the right place! 

I am currently living in New Jersey and finally working towards my first investment property (multifamily/Airbnb). With the high property taxes in NJ and how expensive it is to purchase, I am not sure if buying in NJ is the right move financially. 

What are your thoughts on finding my first investment property out of state? Have you purchased a multifamily/host Airbnb outside of the state that you live in for your first deal? What advice would you have for being a landlord from another state, finding the right markets, working with agents/lenders, etc?  Thank you a bunch for all your advice and insight. 

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