Originally posted by @Gordon Cuffe:
@David ZocchiIf your looking for immediate cash flow then Sacramento is a tough place to get it now unless you put 50% down payment and you get a good deal. You can get a little more cash flow with 4plex's compared to single family homes but the price point is 330k and above for those. Now it is even tougher to get cash flow if a person finances the property because mortgage rates just jumped up 1/2% since the election results. I have purchased out of state in the midwest states to get real cash flow. You can find decent homes in the 60k to 80k range in Missouri that rent for 700 to 900 per month to give you an idea on cash flow. A similar home in Sacramento costs 200k and rents for 1100 per month. The tough part about out of state investing is the property management but if you get a good PM then it works well.
Sorry to bring up a very old post. I'm new to investing and I'm looking out of state. If someone purchases an out of state property that needs some light reno (paint, floors, etc.) and wants to be a fully remote investor, how does he or she manage the coordination of the rehab? Who greets the contractors when they arrive to paint the walls, or lets the delivery man into the home when the new appliances arrives? Is this the job of a property manager or is there some other title for the person that acts as the "boots on the ground"?
