How to know if a home will lose value out of state?
I am close to finishing my first house hack. I had to do quite a bit of rehab on my side of the house. But, the good news is I am almost finished and the market keeps going up in my area. The and bad news is I live right outside of Boston. The goods news is I know the area and economy well. Also, many have said Boston is somewhat insulated from any market downturns. This is due to the many hospitals and schools in the area. The bad news is the cost to buy anything around Boston is sky high. And I am thinking I could turn a HELOC into multiple out of state properties as opposed to one in Boston.
My question is this: How does one find another city to invest in that is somewhat safe? If there is a correction coming, how can an out of state investor invest safely? How do you guys find cities where to invest out of state?