Living in California and seeking to purchase out of state

3 Replies

Hey BP!!
I'm sure this topic had been discussed multiple times but what is the process and criteria for someone who is starting out in REI to invest in properties that is out of state? I have a primary residence house here in California l and looking to purchase a multi-family home hopefully a 4-unit complex to get a a cash flow of at least $100/unit return after all expenses have been paid. The reason I ask about out of state properties from where I live is because properties in California are ridiculously high and as I'm trying to invest my first investment property alone, I don't have that much money to put on my down payment. Also, I'm looking into creating my own LLC. If anyone can give me any insight to the Benefits or downfalls of using a LLC to purchase an investment property. I know my questions are pretty generalized so if anyone needs any additional info or clarification, let me know! Thanks guys!!

Hi @Christian Tacto . It sounds like you have a LOT of reading to do :)

There are many posts (almost daily) about why and why not to use an LLC, and Californians looking to invest out of state are pretty common (us Denver folk seem to be trending that way). Give a search on the forums and you'll find an endless supply of answers!

If you have specific questions and can't find them already answered post it up :)

Promotion
Speed To Lead
Buy hot seller leads w/o subscription
Buy daily seller leads that are actually ready to sell
Finally there's a place where you can buy leads that asked for urgent help selling their house
Sign up for free

Hey Christian! (did I just respond to another one of your posts?) 

As far as the LLC, here's my stance on it-

https://www.biggerpockets.com/renewsblog/2013/08/1...

(read the comments too...there are a ton and all helpful)

I live in Venice and have always invested out-of-state. It is certainly doable for newbies. The most important thing is just the teams you work with. Since you aren't local to do things yourself, your team is your most critical point. 

Reach out anytime for help!