First investment - To out of state or not to out of state.. HELP!

[Valentina Scialacomo]

I live in WA, SEATTLE to be exact and property here is very expensive. I am new to the investment game and a am more inclined for my first investment to be out of state. Somewhere more affordable. Has anyone done this, first investment out of their home state and if so what are the pros and cons?

Thanks all.

[Brandon Vukelich]

Hi Valentina, yep... Seattle is expensive but it's not just the prices, it's the crazy laws that are not so friendly towards landlords.  We sold our Ballard property two years ago and invested in Boise, ID. Now Boise is just as hot as Seattle. We do also own in Tacoma and I work with investors down on that area. My personal opinion is to stock to your local area as much as possible, until you know more about managing rentals. Yes many markets are more "affordable" but they also may not see the appreciation we have in the Puget Sound. It ultimately depends on your investing goals. Also, keep in mind when investing out of state, you need a solid PM partner. Ours is good but we still fly to Boise once a year to check on the property.