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Updated almost 5 years ago on . Most recent reply

User Stats

8
Posts
5
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Nik Satterfield
  • Specialist
  • Seattle, WA
5
Votes |
8
Posts

Out of state rental

Nik Satterfield
  • Specialist
  • Seattle, WA
Posted

Hey BP so I have a question

I found a good deal out of state and it’s a turn key dueplex. It’s in a good area with rents below market and tenets wanting to renew their leases soon. It makes economic sense but where I am running into my “mental block” if you will, is this would be my first deal ever and am kind of in a state of paralysis since I don’t know if this is something I should go all in for and just do it or try and find a partner to help handle it. Or hold off and buy in my back yard for my first?

I have some capital set aside but I just don’t know how I should go about making it useful.

Any advice would be greatly appreciated!

Most Popular Reply

User Stats

39
Posts
21
Votes
Jose Clavijo
  • Contractor
  • North Carolina
21
Votes |
39
Posts
Jose Clavijo
  • Contractor
  • North Carolina
Replied

I am a buy and hold investor. My area has very high property taxes and low rents. The ROI in this area never made sense for buy and hold. I started looking for other states to invest in. I narrowed my search to a specific area and i did visit before i started submitting offers. I also did plenty of research online and connected with investors in that area that i found on bigger pockets. This was the way for me to get past that "mental block".

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