Hello,
I recently graduated with a degree in Finance and Real Estate which gave me a lot of experience as far as understanding the numbers, finance, and business side of real estate but I do not have much "hands on" experience as far as fixing appliances, home ownership (I've rented up until now), etc.
Would buying an out-of-state turn key property be good first investment? I'm nervous because since I wouldn't be available on site any time something goes wrong.
I'd REALLY like to buy locally, but in the Atlanta market, property values are so much higher than rent - and my investment strategy focuses on cash flow, so the numbers just don't make sense. The midwest (where I grew up) has more cash flow friendly property.
My gut says that if I can find a strong team and property manager that I can trust, I can make it work - but given my lack of experience with the "hands-on" aspect of home ownership, I'd like to get a second opinion. Thoughts?
