@Shanna Cox , great question.
Investing out-of-state is a great option if:
1) you have expertise in the area you are investing, or
2) you are investing with a trusted person who has expertise
The Texas market has great value -- a number of people are expecting a rise in Houston values over the next few years. Perhaps look there?
I think the answer to your question depends on your investing criteria. What are you looking for in an investment and can that be found in the state that you live in?
Is your criteria being able to find a cash-flowing properties?
Is your criteria to invest in a city that is expected to achieve double digit population increases?
Are you bulling on a certain sector(Technology, Marijuana) and you want to invest in cities that have a high concentration of those jobs?
If these are any of your criterias and you can't find it in your state - then you probably need to look outside of your state.
There are a lot of threads that debate this. Some people will scream saying investing out-of-state is a horrible idea, and some people do it all the time and are fine with it. I live in California and my closest properties are in GA. It can certainly be done, and with any investing strategy, you just need to learn the ins and outs and risks (and their mitigations) in order for it to work.
A couple articles that might help-
Hope those help get you started!
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing