Out of State Rentals

[KC Conti]

Good Morning All,

Thank you for taking the time to read my post. I have recently paid off my house and become debt free. I am currently hustling to save as much money as I can. I would like to get a few rentals, but given Covid and the evictions restrictions in NY. I am thinking buying local is not a good idea. I have heard nothing but horror stories from other land lords who are struggling because tenants aren't making their rent (even though they are working or collecting unemployment).

I am curious about your experiences buying out of state? Does anyone have good luck with this? I have heard there are a few states that are much more landlord friendly and I would rather spend my money there.

I have found roof stock, but again I haven't seen a lot of upstanding reviews about the website. I really want to find a way to supplement my income but I don't think New York is the right state to do it in. I  would appreciate any thoughts or advice.

Thanks again! 

[Remington Lyman]

Originally posted by @KC Conti:

Good Morning All,

Thank you for taking the time to read my post. I have recently paid off my house and become debt free. I am currently hustling to save as much money as I can. I would like to get a few rentals, but given Covid and the evictions restrictions in NY. I am thinking buying local is not a good idea. I have heard nothing but horror stories from other land lords who are struggling because tenants aren't making their rent (even though they are working or collecting unemployment).

I am curious about your experiences buying out of state? Does anyone have good luck with this? I have heard there are a few states that are much more landlord friendly and I would rather spend my money there.

I have found roof stock, but again I haven't seen a lot of upstanding reviews about the website. I really want to find a way to supplement my income but I don't think New York is the right state to do it in. I  would appreciate any thoughts or advice.

Thanks again! 

 It does not matter where you start as long as you develop your Core 4. The core 4 is David Greene’s strategy for long-distance and made up of a realtor, contractor, property manager, and lender. Once you have this team in place, you should be able to confidently invest in any market.

As for picking a specific market - I would go after one with an increasing job and population growth. I invest and work in Columbus, Ohio.