Invest where I live or out of area

[Michelle K.]

Hello. I am beginning the process of looking for my first investment property. I live in Ca which is very expensive. I am interested in investing in Washington state as well. My questions are, is it a good idea to invest out of the area and SF vs multi family as a first investment. Any advice will be greatly appreciated.

Thank you!!

[JD Martin]

My thoughts on this are always this: if you can't find a deal in a market you know, what would lead you to believe that you could find a deal in a market you don't know? I suspect you ask because it's really expensive to buy investment property there. You might consider moving somewhere cheaper so that you can learn the market, and then go back to Cali after you've achieved your goals. Or you can buy rehabs or turnkey properties and wing it. If you buy something cheap enough, and can afford to lose your shirt, you may be able to take a gamble in some other state.