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Updated almost 9 years ago,
Long distance investment
hello all,
I'm somewhat of a newbie in the field. I have owned and run a 2 family home for 6 years. I am currently in the process of selling the 2 family in the hopes of upgrading to something larger with a 1031 like exchange, possibly commercial property with 6+ units. I'm finding it very hard and sort of frustrating trying to find a solid investment property in my area (Salem, ma). Although the area has very strong rental income, the properties are hard to come by.
I would like to get some feedback and thoughts on looking statewide or even in the New England area for a property? I realize that if it were far enough I would have to hire a management company etc. there seems to be so many more options for much less in a 2-3 hour driving range.
Thanks for your help
Rich