Out of state investing/Financing

[Mark Bascetta]

I have a question about out of state financing and if I should invest in state or out. I am currently a career firefighter in CT and will retire to FL in approximately 20years as I hate the cold even though I grew up in CT. I'm preparing myself financially to start investing in multi family and am debating if it would be better to buy in CT or just buy in FL and get a property manager? It seems FL economy is doing a lot better than CT...Is out of state financing the same as in State? Aside from getting an FHA...Conventional is it possible as I live in CT. Loaded with questions! Thank you guys in advance!

[Michael Noto]

@Mark Bascetta 20 years is a long time. I would start building a portfolio here in Connecticut at first to learn the business and grow and then as you get closer to retirement age start selling off the CT properties and purchase in Florida if that is still the plan at that point. 

Owning at a distance can be challenging for any investor and especially a new one. Your investment success or failure largely hinges on your PM. The more hands on experience you have in the business, the better you will be at identifying a good PM  when the time comes.