Looking for first out of state investment!

[Tim Broo]

Hello everyone, My name is Tim. My wife and I live in Las Vegas Nevada and have been in real estate investing for about 5 years. We initially got into investing after speaking to a co-worker who was approaching retirement and he told me how he owned multiple properties and how it would supplement his retirement. The thought of that passive income blew my mind and set me on the path to invest myself! So far we have bought 2 3bd/2ba homes here in Vegas that we self manage and it's been a great experience and learning opportunity! I started recently thinking about buying another property(s) and stumbled onto BP and I've been voraciously digesting both the podcasts and forums as well I am in the middle of reading Long Distance Real Estate Investing by @David Greene. It's an amazing book and I'm learning a lot!

        Anyway, I'm looking to make connections in different markets to see which best fits my needs! I'm still trying to narrow my specifics but generally looking for stable long term buy and hold properties in appreciating markets(aren't we all lol). So far I am currently researching Indianapolis, Memphis, Florida etc. So glad to have found bigger pockets and look forward to connecting with other people!

[Jay Hinrichs]

I just bought in Summerilin  and even though its quite brown here compared to my other home in Oregon... the grass is not greener when you go far afield other than some very specific markets. .. I think Vegas has a lot of room to run.

Not sure i would take the risk of going anywhere else just to make an extra 100 a month .. 

And your on the right track get your properties paid for asap and keep them that way.

I know its a contrarian view on the max debt leverage refi to you die BP crowd.. but that is where the money is made.. paid for assets and strong appreciation.  For every paid for asset that equals 2 or 3 fully debted properties.. so for the same cash flow your only dealing with one roof NOT 3  1 tenant not 3  1 set of turnover costs not 3.. etc etc.. 

Unless you have some burning desire to be a big time landlord and have the ability to buy 20 to 30 homes minimum that produce 200 a month .. thats still only 4 to 6k a month with millions in debt..  compared to say 10 assets paid for making you 10k a month in a market you know and love. Or really any other market you may like .   Just think on it.. 

and again i know its not a popular BP thought process. but having been around this stuff for more than a few decades and owning hundreds of doors personally. the stress of all that debt to ME personally is not worth the risk..to ME personally .. Unless you can super size it realistically and you have a burning desire to be a long term landlord ( which i don't  LOL )...