Investing out of state

[Markus Gomez]

Hi everyone,

I live here in Sacramento, CA and I am aching to get into my first investment property. I don’t have a lot of capitol to buy in CA right now, so I was thinking of buying out of state. My money goes a lot further out of state and I feel like it will be a challenge, but a good starting point. What is your guys take on buying flip properties out of state? How do you facilitate these types of deals and make sure everything goes as planned? My wife thinks I’m crazy!! But I am determined to start my portfolio and get her out of that mindset that these types of things “can’t” be done!

[Laura Alamery]

@Markus Gomez

I agree with you. Buying out of state might be the best option for you. You will get much more for your money and establish a passive income/rental portfolio much faster.

Good areas to invest would be the middle part of the US (Mid West.) I have owned rentals in St Louis for many years and one of my students/investors has purchased 21 houses this past year alone in Ohio and she lives in South Florida! (She went to Ohio only once - all the fix and flips and management are done remotely via project and rental managers.) Her cash flow per door is over $400 per door.

I have owned my rentals in St Louis since the '90s and most of them are paid in full and I just collect passive income. I live in South Florida and I go to St Louis 2/3 times a year (mainly to visit family and friends.)