First Time Buying - Out of State?
I'm looking to get into real estate investing but I live in Los Angeles.
Finding cashflow opportunities is next to impossible at this time, and even when you find decent looking numbers the sale price gets bid up way over asking to where the numbers aren't so decent.
My hopes are that things are topping out here, because I'm tied to LA for my full time job and I would love to purchase and do a "house hack" situation.
Recently I've been looking at opportunities outside of CA and Toledo, OH is looking very attractive. My step brother is going to med school out there and renting a place so he would potentially partner with me.
I guess I'm looking for any generic tips, suggestions or warnings for a first time investor out of state -
I'm looking to purchase something between 50k-85k and it looks like I would be able to find something that would adhere to the 1% rule pretty easily.
Anybody on here done something similar? Would love any feedback, tips or suggestions. This is my first post here.
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@Mike F. I do know of a great property management company in Ohio but I must disclose I am affiliated with the owner @Engelo Rumora He does property management heavily in Toledo, OH as well as southern Ohio around Dayton and Cincinnati. I do not have contacts with inspectors in southern Ohio as I live, work and invest in Toledo but I can PM you a great contact down south who may be able to assist.