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Updated over 7 years ago, 06/03/2017
How to pick a location out of state?
Hi. I am new to BP. This site has been so helpful so far. I live in the SF Bay Area and am starting a search for markets out of state to invest in. Looking for single family homes for cash flow. Realized Bay Area was out.My questions are for others who invest out of state.
How did you choose your state/city?
Do you tend to stick to that state or do you start to move to other areas?
How do you develop connections? Contractors? Real Estate agents in that unfamiliar state?
How often are you finding yourself having to travel?
I've been entertaining Boise, Spokane. Would love San Diego. As of now, I have 200k to pour into real estate. I am
Looking at those areas mainly because of the multitude of single family homes and the proximity to the Bay Area. I could fly out in the morning and be home in the evening.
I don't have family connections to any of those areas and really don't know anyone. I feel nervous about not knowing an area. For example, i could talk Bay Area geography forever. But if I want to become an REI with cash flow I need to expand my wings... but how to do that without fear of the unknown!
Thanks in advance!