How far is too far for me?

Question

I'm looking to began investing in a flip.Im currently getting my license here in NY then looking to began investing.Was looking to invest in Detroit but I won't be able to be there as often as I need to be.My best options would be Philly or Baltimore? Am I going about it correctly? I will transfer my license if need but I would like some advice on wheres best to began,please can someone help me?

Marci Stein · Answer

Mike - it’s very possible to buy a SFH in Sullivan county for $60 - 80 k that is rent ready .

Ozzy Sirimsi · Answer

You would still need  a local person to give you advice or introduce you the areas. Licence does not mean anything In Baltimore if you dont know the city.

Jimmy O'Connor · Answer

@Mike Muniz Many investors from NY are coming down to this market down here in Philly since your dollar goes further for both flips or rentals while appreciating (depending on the neighborhood). Where to invest all depends on your goals- especially in Philly where you have some hard borders that can define whether you should flip or rent or both in that specific pocket.

John Teachout · Answer

If you're flipping and it's going to require you to be there to manage and observe progress, I think the closer it is to where you live, the better. We try to keep our rentals (that we refurb ourselves) to within 30 minutes to minimize commuting time.

Mike Muniz · Answer

@Marci Stein thank you Marci I really don't want to start investing out of state until I learn more,I want to apply myself as much as possible to one market.I was hesitant about NY because of the high market prices but Ill definitely look into upstate to began.Thanks again so much!!

Marci Stein · Answer

Thought about upstate NY ?

Sullivan , Ulster , Greene County are all good .

How far is too far for me?

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