Updated almost 9 years ago on . Most recent reply
Starting with a remote investment.
Hello! Discovered BP about a month ago and have since listened to about 30 podcasts. Figured it was about time I started engaging with the community. I have about 1000 questions. But figured I'd start with my most pressing.
Is it wise to invest for the very first time out of state?
I live in Los Angeles where properties are prohibitively expensive, even if I were to use an FHA loan. Speculating here. But suspect a property in Denver or Austin might have a higher chance of appreciating. And could pick up a property for far less.
Really appreciate any thoughts and / or anecdotal examples.
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I live in LA and invest in Kansas City. It's tough to do rehabs remotely but it's possible if you're willing to go there fairly often. I don't like TK for SFH but think I can work on small to large apartments if you want to buy cash flow.
I think the most important thing to ask yourself is what is my goal? Once you know your goal you can figure out how to achieve it. Don't buy RE just to buy RE-have a reason/goal behind it.