Out of state Real estate investing

[Chantz Ireland]

Hi everybody, Im currently in a position to buy my 2nd house. I live in Seattle and will not be able to buy anything here or in the surrounding areas due to the market and high prices.

This leads me down the path of out of state investing. I am wondering what some good places are to start looking for rentals that are out of state and maybe someone who has done it them self's to let me know the ins and outs of it.

Where do you recommend looking for property's?

What are some things I should take into consideration?

How should I move forward now that I know what i want to do?

I'm looking for a single family or Duplex/Triplex that cashflows at a minimum of $500 a month with a purchase price under 100k (more cashflow for Du/Triplex)

[David Faulkner]

Let's apply some common sense here ... why on Earth would a duplex or triplex sell for under $100k retail and cash flow $500/mo on paper? If it is such a great deal, then how could an out of state buyer waltz right into a market that they have literally no familiarity with and pick it up right of the MLS for that price? Does that make any logical sense, or is it that maybe, just maybe, all of the locals passed on it even at that price for a reason and there is some other reason(s) it is priced so low that you are not fully considering ... you my friend have some serious flaws in your thinking IMHO ... I know this probably sounds harsh, but not nearly as harsh as the lesson you will likely receive if you carry out your plan. Stay local and hands on ... if you can't afford Seattle, then either find a nearby market that you can or save, educate, and wait OR move to one of those "high cash flow" markets and invest there as a local after you familiarize yourself with the lay of the land ...