Invest here in Massachusetts or invest out of state?

[Rafael Barbosa]

I am looking to invest in a new home within the next few months. My wife and I have managed to save up $30,000 and our credit is good. We are having a hard time deciding if we should buy a 2-3 unit MFH here in the Boston area which usually go for $400k-$600k using an FHA loan or if we should invest in stronger and more affordable markets such as Florida/ Texas etc... Using a conventional loan using the $30,000 as down payment for 1-2 Single family homes. We don't want to move too far from the boston area due to work, but we feel that The Roi wouldn't be that great here due to the high prices of homes compared to the rent. We know for a fact that there are better opportunities out of state with much higher Roi, but we're not really sure where to start. We need some advice on which would be the better option for a newbie trying to get into this cash flow business... Thanks

[Alex Franks]

Originally posted by @Rafael Barbosa:

I am looking to invest in a new home within the next few months. My wife and I have managed to save up $30,000 and our credit is good. We are having a hard time deciding if we should buy a 2-3 unit MFH here in the Boston area which usually go for $400k-$600k using an FHA loan or if we should invest in stronger and more affordable markets such as Florida/ Texas etc... Using a conventional loan using the $30,000 as down payment for 1-2 Single family homes. We don't want to move too far from the boston area due to work, but we feel that The Roi wouldn't be that great here due to the high prices of homes compared to the rent. We know for a fact that there are better opportunities out of state with much higher Roi, but we're not really sure where to start. We need some advice on which would be the better option for a newbie trying to get into this cash flow business... Thanks

Buy at home first before you venture out. Learning the ropes and all that go along with owning a rental. Then venture out in to other markets. I just feel most folks should start at home.

Alex