Los Angeles Properties vs. Out of State Properties
Hello,
My name is Dan and I was wondering if any of you had any advice for a beginner investor like me. I recently closed on a deal to sell my house in Los Angeles area and I have some capital to buy new property/properties. If I buy in the Los Angeles area, I will have to pay a premium for overpriced real estate. I have been interested in looking into investing in Texas or Portland(Oregon) since my sister is there. I did the math and I would not have any positive cash flow from buying properties here in LA unless I pay 50% of the property's cost up front.
Would any of you have any advice on buying property out of state and how I would be able to manage it from afar?
I have about 6 months to buy a property or properties.
Thanks in advance!
-dan