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Updated about 10 years ago on . Most recent reply
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What states would you recommend a newbie whose trying to get into out-of-state RE investing?
I'm an amateur RE investor, but I'm trying to get more into investing this year. Only problem is that I live in a pretty expensive area (LA), & I can't afford buying too much here.
I want to buy a few MFRs out-of-state, but I'm obviously nervous and unsure of where the better markets are, especially as an amateur like me. I'm definitely willing to take some risk, but overall, I'm afraid I'll be taken for a ride by some agent and then my money will be washed down the drain :(
Ideally, I'm looking to buy 2-3 MFRs for 40-70k, and have them managed by a communicative and competent PM company. I would love to hear your guys' thoughts on what cities/states I should look into that would provide the best cash-on-cash ROI for my budget & level of experience.
Most Popular Reply
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Make sure you watch the taxes and insurance costs from whatever state you pick!
Also look at long term value and market potential.