Out of state rentals. Good or bad idea?

Out of state rentals. Good or bad idea?

Mapleton, UT · Member since 2017 · 2 posts · 0 votes

Hey my name is Todd and I’m from the Utah County area. I have been recently looking into buying rentals outside of Utah. The reason being the market here has become pretty competitive. I have one Dulex with long term tenants and have been looking for more multi-family, single family home to buy and rent but I just can’t get the numbers to line up. I was hoping I could get some feedback on your experiences with out of state rentals, property management companies etc. Thanks for the help. - Todd

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  • Property Manager · CT · Member since 2014 · 687 posts · 329 votes
    8y

    Todd, invest in markets where the numbers line up.  

    Do you have any rentals at the moment?  If so you should know what returns work for you and which do not.

    Use a management company if you have to.  You should be managing your cashflow, not your property!

  • Walnut Creek, CA · Member since 2015 · 3k+ posts · 2k+ votes
    8y

    OOS markets are competitive too, you get lots of competition with cash flush investors from major metros that spent 20 mins googling...

  • Mapleton, UT · Member since 2017 · 2 posts · 0 votes
    8y

    Craig and Matt thanks for the input. I really appreciate the help!

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