Looking to buy out of state

16 Replies

Hi my name is David I'm an investor in New York properties are kind of high out here I would like to buy in areas like Philly ,Boston ,Connecticut or even upstate New York does anybody have any advice on how to research the market in these areas thank you

Hey David, welcome to Philly! Read this article and you'll know that Philly is developing rapidly. As a consequence, some areas will appreciate as well and it's specially good for both buying rentals and flips.

https://philly.curbed.com/2017...

Let me know how I can help 'cause I've sold a lot of properties in this market and the suburbs of Philly. Best of luck on your research! 

Originally posted by @Victoria Pham :

Hey David, welcome to Philly! Read this article and you'll know that Philly is developing rapidly. As a consequence, some areas will appreciate as well and it's specially good for both buying rentals and flips.

https://philly.curbed.com/2017...

Let me know how I can help 'cause I've sold a lot of properties in this market and the suburbs of Philly. Best of luck on your research! 

 

Originally posted by @Rachel H. :

@David Jones Definitely connect with @Ali Boone here if you want to buy properties out of state and have questions. She specializes in this area and has written extensively on the subject for the BP blog. Hope that helps! 

Thanks for the shout out, Rachel! :)

Hey David,

The first steps I would recommend as a out of state investor is to get a handle on analyzing the income, expenses and ROI of these properties in Connecticut. Bridgeport is a great place to start.

You can use the Bigger Pockets calculators to start. Use Zillow and rentometer.com to get data and analyze a few from your home to see what type of returns there are. Right now rents are strong, you can get $800 for a 1 bed, $1100 for 2 bed, and up to $1300 for a 3 bedroom.

If these meet your investment criteria then start looking in person or have boots on the ground doing the footwork for you.

Let me know if you have any questions.

-Craig Bellot

During the time covid-19 and a forbearance would like to know if anyone was recently brought multi families are dealing with tenants not paying rent and in what states are they allowing evictions. What type of tennis should I be looking for in purchasing multi-family homes