Run your comps, check leases, and proof of rent, and make sure to thoroughly analyze the inspection report and walkthrough video if this is out of state. 

As someone who works with a lot of out of state investors - there's so many catalysts for why you should invest here.

Hello,My friend is moving out of state and I am looking to purchase their home.

I received email from wealthability stating that my year had ended and they need monthly payments to continue wealthability from here on, for their live webinars.

I think some of the newer construction is sitting well above current market value and could be in jeopardy if the market adjusts or the economy continues to fluctuate with inflation.Depending on where you live and what your comfort level is there are several other states that can offer a better cash flow for a similar price range.  

So my question is, can I take out a line of credit against that equity to help fund my next purchase, or can I not take a HELOC out on an out of state investment property?

I have many out of market/state/country investor clients (and I also do out-of-state investing for my own portfolio) who self-manage their properties which is the best way to maximize cash flow and retain control of your investment.

@Carlos OlivaDepends on the state and the use of funds, but typically it’s as easy as it sounds.

Some trial State versus Sam XXXX.  

2024-01-03: Major Detroit Developments for 2024https://michiganchronicle.com/2024/01/03/major-developments-that-will-define-detroit-in-2024/2023-12-13: Volkswagen Scout Brand investing $11M in Detroit, 200 new jobshttps://www.teslarati.com/volkswagen-scout-11-million-detroit-investment/2023-11-02: Hotel Added to Hudson Site, total over $1.4Bhttps://www.detroitnews.com/story/business/2023/11/02/hudsons-site-hotel-plans-move-ahead-as-city-issues-permit/71426631007/2023-11-01: Detroit west side Dexter Neighborhood Receives $21.5Mhttps://www.clickondetroit.com/news/local/2023/11/01/neighborhood-on-detroits-west-side-receives-more-than-215m-in-investments/2023-09-27: Norway’s Nel Hydron investing $400M, 517 new jobshttps://businessfacilities.com/nel-hydrogen-will-build-400m-gigafactory-in-southeast-michigan#:~:text=In%20Southeast%20Michigan-,Nel%20Hydrogen%20Will%20Build%20%24400M%20Gigafactory%20In%20Southeast%20Michigan,green%20hydrogen%20using%20electrolyzer%20technology.2023-09-08: Chase invests $200M in Detroithttps://www.axios.com/2023/09/28/detroit-rebound-jp-morgan-investment2023-09-06: Gilbert Foundation invests $439M in Detroithttps://www.henryfordmsu.org/news/september-2023/gilbert-family-foundation-announces-nick-gilbert-neurofibromatosis-research-institute2023-07-26: Bollinger Motors investing $44M, 237 new jobshttps://michauto.org/bollinger-motors-plans-44m-metro-detroit-investment/2023-03-30: 15 New Detroit Developments to Be Excited Abouthttps://www.metrotimes.com/detroit/15-new-detroit-developments-to-be-excited-about-photos/Slideshow/32734721/327353922023-03-28: BorgWarner Investing $20.6M, 186 new jobshttps://www.crainsdetroit.com/auto-suppliers/borgwarner-invest-206-million-create-186-jobs2023-03-28: 3 International Companies Choose Detroithttps://www.detroitregionalpartnership.com/international-investment-comes-to-detroit-region/2023-03-06: District Detroit $1.5B Development, 12,000 temp jobs, 6,000 new jobs2023-02-09: 6 New Residential Developments in Detroithttps://detroitisit.com/6-new-residential-developments-in-detroit-to-know-about/2023-02-08: $2.5B New Center by Henry Ford Health, Pistons owner and Michigan State Universityhttps://www.clickondetroit.com/news/local/2023/02/08/incredible-investment-in-our-city-25b-detroit-neighborhood-redevelopment-to-begin-in-2024/2023-01-31: $300M Huntington Place Renovations & New Detroit Hotel https://www.crainsdetroit.com/real-estate/huntington-place-renovations-new-hotel-deal-reachedContact us with any questions you have.