Moving to a different Town to Begin Real Estate Investing

[Solomon Oh]

To all my Fellow BP'ers:

I reside in the Great Pacific Northwest (Seattle) and have been off an on dabbling with Real Estate for the past 2 years (since 2014), but have not been able to purchase my first investment property. The inventory in the area is grossly overpriced or are homes priced well in higher crime areas.

Here is my question/discussion starter:

Is there anyone who moved 500+ miles away from where they lived to begin real estate investing with investor friendly areas? I am really thinking about moving to places like Oklahoma City, Indianapolis, Little Rock, Memphis because of the returns I am able to see on a consistent basis (thinking 80,000-100,000 homes)

I also figure because I would owner occupy, I would get favorable terms on a multiplex that could cash flow much more strongly and give me an affordable entrance into the investing world. 

I have an idea of what the local economy entails, however I am wondering if there are any pitfalls/blunders someone may have already gone through this process? Did self management work out or was professional help required to make things work.How were vendors picked?

Thanks again!

Solomon D. Oh

[Michelle T.]

I'm with Todd F.  Why not stay where you are and invest out of state with good property management in place.   Go and visit a couple of the cities, meet and interview several property management teams and check out the area in general.   Live where you want to live and invest where the numbers are right for you.  These don't have to be the same place.

Best of luck!