Skip to content
General Real Estate Investing

User Stats

80
Posts
10
Votes
Chris Lynch
  • Commercial Real Estate Agent
  • East Providence, RI
10
Votes |
80
Posts

Investing in low price homes (30k-60k) Out of state ?

Chris Lynch
  • Commercial Real Estate Agent
  • East Providence, RI
Posted Mar 14 2015, 14:22

I have been on the forums for awhile now and after some thought I have been thinking about this strategy. I would love feedback.

In my state (RI)  homes are about 180k on avg. Of course prices vary based on area. But even with that said I have found landlord laws to be not so good in terms of eviction and I found property taxes to be kinda high.

I am a young guy so I can afford to spend time traveling if I need too. In some cases I would even prefer it. But I am wondering if anyone here invest out of state ( Long distance) and if so how do you manage that? Do you hire a good property manager and manage the manager from a distance? If so how has it worked out...

After some thought It seems like buying low priced property that cash flow more might be a good idea. Once financially free on cash flow, work toward buying bigger and better property that appreciate.

If you have any real life experiences, advice on buying long distance rentals, or even good areas to buy these type property's I would love to hear from you. 

Best Regards,

C.L

Loading replies...