Specialist · Pasadena, CA · Member since 2017 · 40 posts · 4 votes
I just bought my first house this year which in the future will be my rental.
i have some money saved and wanted to see if i can aquire my second property or my first actual rental
my only question is should i invest where i live? can i look for deal anywhere in the country?? i am very new at this. i have started my education reading a few books but i am ready and just need some advice
If you plan on managing the properties yourself, then you may want to invest close to you, that and if it's a good area to invest. there is nothing wrong with investing out of state either, all of mine are. if you are not going to manage them then make sure you allow for property management in your numbers ( you should always do that any way, your time is money and if you decide not to manage any more then you have it factored in already). It is up to you and how comfortable you feel investing elsewhere.
i would love to manage properties myself however i live in LA and everything here is soon expensive and competitive so i wondered if i can expand in other states where i can have some kind of cash flow