Investing s while still renting ?

[Jeffery Cooper]

Hey guys so..

I have been planning to get into real estate for a long while now and will pull the trigger by august. As august I will have funds required.

I currently rent here in SoCal . Very very expensive City to buy in and my plan was to get into real estate investing while continuing to rent here in So cal and purchase out of state property.

Many people that here my Plan tell me that I should buy my first property for myself first then look outward. But I want to continue to rent while buying my first property to use as passive income.

What do you think?

[John Leake]

If I could go back I would have purchased a house hack as my first property. In the area you live in, it being expensive it may make more sense to keep renting and buy out of state like you are thinking. It will honestly come down to the deal and thinking of it from that perspective may make the most sense. Look for a deal both in your area as well as in whatever out of state market you are considering. I would then go with whatever deal makes will work best for you. Some additional challenges with out of state is you will be more limited on what you can do on your own vs hiring out. It can be a huge benefit starting out to be able to get some sweat equity in your deal. Best of luck!!