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Updated almost 8 years ago,
Buying in Markets Far From Home
Hi! New real estate investor here with a goal of investing to replace my income within the next 3 years. I live in the SF Bay Area, which is one of the most expensive real estate markets in the country, so my goal is to invest in properties in the mid-west and southeast.
I'm curious how I should approach this when I know nothing about these areas? I'm interested in Ohio, Georgia, and Tennessee as starting points, but how do I zero in on specific cities? How do I find local, trusted services? What can I do to study the areas from afar and what should I be aware of as a distant property owner? Also, should I zero in on one area only to maximize local services or diversity in different regions of the country?
I am learning so much from this forum and BP in general, but I'm not sure exactly how I should approach my search for properties given my distance. I've only lived in the US for 10 years, so I'm not that familiar with any areas outside of California.
Thanks!