Out-of-state Investing
Hi all,
Even as a new investor looking for my first property, it's not difficult to see that the metro-Boston area is not very friendly to a new investor looking to enter at a low price, while also being able to maximize cash flow.
As a new rookie, my first inclination is to find a rental property close to home, however it's quite obvious that my goals will not be easily met in my neighborhood. The thought of looking at investments in other states seems like a logical option, but for someone who is looking for their first property, going out of state on the first time at the plate seems like it might be quite a bit of a headache as well.
For those of you who might be familiar with someone in this position, what advice might you have? Is investing out of state really that much more difficult? Should I focus on my own turf to gain confidence?
Cheers,
Phil