Is long distance investing difficult?

[Jovann Thompson]

I’m 20 years old and live in Arizona but I was looking at a cheaper markets to invest in like Memphis Tennessee. I’m seeking advice on should I try to get a primary residence here in Az or a rental property in a cheaper market? I have about 15k to invest

[Evan Anderson]

Hey Jovann,

Its funny, because I live in Phoenix as well and found myself asking the same question about a week ago.

Things I would consider:

The market is getting a little pricey in the valley however I don't think it is going to slow down soon. So appreciation would still be a benefit of getting a property in Phoenix.

Another factor that you may want to consider is the return that you are looking for? Cash flow vs buy and hold.

Alone, 15k will probably get you a property that could benefit from renovations, something you could live in and fix up.

Also consider when looking in another market that you will need a team/network to help.

I was recommended to read David Greenes book on Long Distance Investing.

Feel free to message me if you have any other questions or would like to chat. Hope this was helpful!