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Updated about 8 years ago, 10/04/2016
Ca overpriced... why NOT buy several houses remotely?
I am working on a long term buy and hold plan.. SFH's here in Nor cal are SO overpriced. I am 40, 3 kids, full time job... I envision doing Property management at least in the first decade, but do a lot of work myself on any I can buy locally. If I am going to pay a manager anyway... WHY NOT buy a house in St Louis for $50k that rents for $600 vs a house in sacramento that costs $350k and rents for 1100...? Why wouldnt I buy rentals elsewhere that cost 1/5th the amount here for barely less rent? What is the drawback besides the finding and screening?