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Updated about 4 years ago,
First time investor with 60K to invest, OOS vs Local?
I currently own a home in California and looking to invest for first time in a rental property. Although I have been told that managing a rental property close to where you live is a better choice, it is extremely unaffordable to buy a rental property in the area I live. I am very tempted to look OOS but not sure how to go about it. I have about 60-70K to invest and my goal is to get some cash flow as a passive stream of income. I have been interested in several markets like Raleigh-Durham-Research Triangle area, Austin-Dallas area, Phoenix, AZ due to their future prospects but not able to decide on how to zero in on one of those. Unfortunately, I don't have any close contacts in any of the above places above. Can someone please guide? Thanks for looking at this post.