Investing Out of State

[Joe Haines]

I live in California and the incredibly high prices have made me consider investing out of state. I wouldn't be comfortable without being able to check on the property so I would probably want to try a house hacking technique and move there and then begin further investing. I have a modest inheritance (150k) from my father, and he has put me in a position in which I could feasibly do this. Does anyone have any experience in relocating to invest? Any other input would be appreciated. 

[Jake C.]

Joe, this is obviously a decision that will depend on what your personal goals are. But if your goal is to make as much money as possible, being open to "following the money" gives you an edge over many other investors who may be tied down in different ways. 

If you are seriously considering this, make sure you have a very clear focus on the type of real estate you will be chasing. Once you narrow that down, research which locales are best suited for your aspirations. Then, pull the trigger and dont look back!