New home purchase out of state 2024

[Gladys Melendez]

Hello new to Bigger Pockets, looking to purchase a second home out of state

California to Arizona. What is the best way to purchase it, and any house hacking advice. I would like to start investing in rental properties. Ty

[Susan Thelen]

@Gladys Melendez it would depend on how much you have to put into a rehab vs a new build. I think it would be easier to to buy a new build then take equity out after a year or so to purchase your another rental. Builders here in AZ are offering a lot of incentives right now. Also if you are not living in the state where the rehab is being done then it will be pretty hard to manage (but it is possible as long as you have a good team of people). For an FHA loan yes you would need to be employed in the state where you are purchasing or have intent to start a job there. I have a lender I work with here in AZ if you would like their info.