Interested in Out-of-state Investing

[Carmel Tanaka]

Hi BP,

I’m new to real estate investing and I’m very excited to be part of this group. I currently live in California but interested in out-of-state investing. My main focus is to purchase a small multi-family in a "A" or "B" neighborhood, not more than $200K, and meets the 1% rule. My goal is to purchase my first rental property by end of this year or sooner. I’ve been doing a lot of research, however I still haven’t really figured out an area - city/state to invest in. So far, I’ve looked into Detroit MI, Columbus OH, and Jacksonville FL, but still unsure. 

Out-of-state investors, where are you investing and why? 

Any advice/information is greatly appreciated. Thank you!

- Carmel

[Daniel Spaizman]

Hello, Carmel!

Welcome to Bigger Pockets and Real Estate Investing, in general.  I recently purchased a couple of duplexes in Columbus, OH, though they are located in a C neighborhood.  Chad Carson, a guest on the BP podcast and successful RE investor, has his own podcast (Episode 41 https://www.coachcarson.com/ideal-location-investment-properties/) that talks about narrowing the search. Give it a listen if you feel inclined.  Here is another good one too  https://www.coachcarson.com/where-to-buy-investment-property/.

If you have any questions, feel free to send them over.

Best of luck on this exciting and (potentially) fruitful journey.