Out of state investing. CA resident.
Hi everyone. I'm a new member here. I've been heavily considering investing out of state. I currently work in real estate sales here in CA but I also do some personal flips in the Inland Empire (San Bernardino County). I currently have about $500,000 to invest and originally I was looking to flip then buy and hold here in CA. I have had a couple of colleagues who invested in units out of state which is what got me interested in out of state investing. Prices here in CA are ridiculous!
I have been looking into Texas but I would like to get opinions/suggestions from those of you who are investing out of state. What states/cities should I look into? Are you starting LLC or other corporations in that state? For those that invest in Texas, are the property taxes really that bad? Any pointers on what to prepare for those out of state investments?
I'm open to any and all suggestions/help.
Thank you.