Updated almost 6 years ago on . Most recent reply
Out of state rental
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
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".