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Updated almost 3 years ago on . Most recent reply

Would you recommend first rental be local?
Hi all, I just joined here. My husband and I have been wanting to get into real estate for some time and started with hopes of self storage but decided after a year of trying to purchase in that market to move over to other real estate! Excited to be here.
My question is this: (and thank you for any advice you have to give me!), would you recommend your first rental property be in your local market? We are having trouble finding a "deal" in our area. Everything still seems so overpriced to make the numbers work! If not, do you have any advice on finding a market that is more doable currently? Thank you, and I apologize for sounding so amateur!
Most Popular Reply

Ideally, but being local isn't a requirement. Making money is. If local doesn't make money, don't invest there...and don't rationalize a bad deal just because it might be local.