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Updated almost 2 years ago on . Most recent reply

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Zeliang Zheng
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Which city should I start my first out-of-state BRRRR

Zeliang Zheng
Posted

I want to start out-of-state BRRRR. Does anyone have recommendation as to what city I should start? I am looking for places that has good potential to appreciate over time and good monthly return (~1%).

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Andrew Postell
#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Lender
  • Fort Worth, TX
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Andrew Postell
#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Lender
  • Fort Worth, TX
Replied

@Zeliang Zheng hmmm, I might answer this in a little different way - the best place for you to invest in is the place where you know people.  What I mean here is that this city will be 1% better than that other city.  And another city will be 2% better than that one....but if there is one misstep on your property then all that difference can get erased.  And that's why it's important to invest somewhere that you know someone.  You may never even see your property.  That's an ENORMOUS amount of trust to put into a stranger.  How do you know that those people are any good?  That is, unless it's someone you know.  Or maybe someone you know can refer them to you.  I have been an out of state investor for 15 years.  I invest in Jacksonville, Florida.  I invest there because I have a trusted network of people who manage my properties.  Whatever the slight difference here and there is - go with some place that you have trustworthy people and that will be the better investment.  Hope all of that makes sense. 

  • Andrew Postell
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