States to buy real estate ?

Question

I want to buy my first real estate next year but I still don’t know what state is best to purchase my first deal, and any advice to first time real estate investors?

Joseph Schweizer · Answer

Hi @Victor Delarosa!

As many have stated above, it all depends on your goals and the strategies you are looking to use. For me, I was looking for some cash flow and a lower price point to get started. I made my first investment (closed in October) in Kansas City, MO because it fits my goals at this time.

Jonathan Greene · Answer

If you live in Chicago, why are you thinking about other states to buy real estate. Contact @Jake Fugman and he can help you identify straight investment properties of places to live.

Noah Chappell · Answer

@Victor Delarosa I'd invest in greater Chicago but on the Indiana side to avoid the high Cook County taxes.

Steven Foster Wilson · Answer

Real estate can be a massive investment option. And for those who have long-term rental homes, they just can't be beaten. But when it comes to taking the vital first step, most people don't know where to start. If you're thinking about investing in real estate, these are some top factors to help you get off to a brilliant start.

Identify your financial status.Choose a particular investing plan for real estate.Choose a target demographic.Decide on the investment property requirements.Create a team up.Financing Line Up.Increase Cash For Down Payments & Reserves.Build a deal-finding strategy.

John Warren · Answer

@Victor Delarosa you live in the third largest market in the United States. The best place for you to invest is definitely where you live. The only caveat to that is if you have tons of cash and can buy institutional sized investments like a 200 unit complex. Then you can chase growth a bit more since you have onsite management overseen by a regional management company, but for the average guy or gal it makes zero sense to travel out of your area if you live in Chicago.

Crystal Smith · Answer

If you want to be a passive by & hold investor here's a link to an article for the 20 best states according to  20 best States. Since you live in Illinois please note it's on the list.

Victor J Delarosa · Answer

@Nicholas L. My goal for now is to start with a duplex/ multi family home and purchase a bigger deal every 3 years. I’m trying to gather a couple of my friends so we can partner up and purchase multi family homes as well. Is that a good idea ?

Nicholas L. · Answer

@Victor Delarosa there are successful investors in every state.  The south and midwest tend to be cheaper than the northeast and the west.  What are your goals?

States to buy real estate ?

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