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General Landlording & Rental Properties
HomeForumsGeneral Landlording & Rental PropertiesOut of State Rental
Jamal Atwell's profile image
Jamal Atwell's profile image
Jamal Atwell
  • Real Estate Agent, Real Estate Investor
  • from Arlington, Virginia
  • Member since Feb 23, 2014
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62
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Jamal Atwell's profile image
Jamal Atwell's profile image
Jamal Atwell
  • Real Estate Agent, Real Estate Investor
  • from Arlington, Virginia
  • Member since Feb 23, 2014
Connect
Jamal Atwell
  • Real Estate Agent, Real Estate Investor
  • Arlington, VA
15
Votes |
62
Posts
General Landlording & Rental Properties

Out of State Rental

Jamal Atwell
  • Real Estate Agent, Real Estate Investor
  • Arlington, VA
Posted Oct 16 2014, 07:53

I currently live in the DC area and unfortunately getting anything going here requires a large reserve of capital. I'm 23 so I'm still in college (last semester) and am currently gov. employed,I would like to invest but can't afford it in DC.

Would any of you recommend buying an Out of State Rental property in a place like Texas or anywhere else where the average home price is $80,000-$100,000? I have about $20,000 saved up to invest. 

If I can obtain one of these properties that rent for about $900-$1,000 with $400 mortgage payments. I should have it cash flowing buy about $100 after repairs and vacancy is accounted for.

Does this seem like a good plan?

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