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
@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!
San Antonio, TX · Member since 2009 · 3k+ posts · 1k+ votes
6y
@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!
Rental Property Investor · Saratoga Springs, NY · Member since 2018 · 163 posts · 112 votes
6y
@David Jones I'd research RE meetup groups in the geographic areas you are interested. You may be able to Zoom call in to their meetings, but at a minimum you'll get introduced to knowledgeable folks you can leverage down the road.
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.
@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!
Property Manager · CT · Member since 2014 · 687 posts · 329 votes
6y
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.
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
Thank you Craig that was great information I'm in New York so Connecticut is one of the places I've been looking in to. which areas would you consider mean to look into
@David Jones. I'm in the same boat looking to get out of state. I've been looking in Connecticut and Orlando. I'll let you know as I learn more. Good luck!