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Updated over 3 years ago on . Most recent reply

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Henry Pena
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How to determine which state or area is best?

Henry Pena
Posted

Hi everyone, I currently own a property that I am looking to pull a heloc on. I would like to use the heloc to invest out of state but, I am having trouble determining what area/state is best for me. I am looking to possibly BRRRR with the funds and hold long term. Thank you in advance.

  • Henry Pena
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    Joe Villeneuve
    #5 All Forums Contributor
    • Plymouth, MI
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    Joe Villeneuve
    #5 All Forums Contributor
    • Plymouth, MI
    Replied

    That's like asking "what car is best for you".

    Way too much info is missing from your end to answer this question.  You need to know:
    1 - What your financial goals are
    2 - What your financial capabilities are
    3 - What your knowledge base is in the way of strategies
    Then you need to apply these things to specific out of state markets to find the micro-markets (not all properties within markets are the same...even if the houses are identical) where the combination of #2 and #3 above will deliver #1 above.

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