Buying MFH out of state?

[Thomas McDermott]

I have been thinking about buying Multi family units outside of the state I live in (Utah) because I can buy more units elsewhere than I can here locally. Some of my thoughts are:

Pros:

- More units

Cons:

- Potentially less income due to lesser value

- Not close by if need to address an issue

- Have to hire Property Management Company

From the list you would think it would be an easy decision but my gut keeps telling me out of state. Any thoughts or insights of your experience doing it would be greatly appreciated.

Already have 1 rental and looking to expand/build portfolio.

Thanks for being an awesome community!

[Darius Ogloza]

There is nothing inherently right or wrong with investing out of your area but whether it makes financial sense will depend on the specific investment thesis/value proposition you are pursuing.  Which market do you intend to invest in and why that market?  The mere fact that something is cheaper elsewhere does not mean it is a better value.  No harm in kicking the tires (if you have the time to study other markets) but in the end value matters, not price.