Hi all!
I am currently looking to start investing in real estate. The question is: where? I live in NJ, and wanted to invest here since rents are so high, however so are taxes, and house prices. A few people told me to invest here because rents are high, and vacancy is low.
Other people told me to invest in other markets such as Memphis, Tennessee and hire a management company. I get scared with buying out of state because I won't be able to be seeing the property often... etc. Besides even though the houses in these markets are lower, so is the rent.
My husband works in construction, so buying a house here has the pro that a lot of the renovations he can do himself.
Also, we are supposed to have a recession within the next 12 months. Is buying a house now a good idea? NJ or TN?
Please advise!!
