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Updated over 5 years ago on . Most recent reply
Inventing in real estate out of state
I’m looking to begin my real estate investing with purchasing properties and lease optioning them out. It will have to be out of state due to me living in SoCal. I’m mostly concerned with my out of state situation, has anyone found a smooth transition?
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#5 Guru, Book, & Course Reviews Contributor
- Investor
- Sherman Oaks, CA
Doing lease options in good school districts in the midwest is a smart idea.
Lets say you wanted to invest in Cleveland OH
Look on www.GreatSchools.org
Look on www.NeighborhoodScout.com
Pick the best neighborhoods.
Then look for houses that are in good shape, needs little work, and these houses do not sell with an agent, usually because they bought a short time ago FHA and have little equity.
Look for expireds, canceled listings.
Contact the seller and see if they would be interested in avoiding a commission and closing costs.
Offer to do a lease option assignment at no cost to them.