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Updated about 7 years ago on . Most recent reply

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Benjamin Aaron Parr
  • Charleston, WV
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Would Out of State be worth it?

Benjamin Aaron Parr
  • Charleston, WV
Posted

First and foremost, if I put this in the wrong section I am terribly sorry. Just joined the site and am still figuring everything out.

Recently became intrigued in acquiring property to rent out (I plan on reading some of the guides here to learn start knowledge). However, I didn't notice too much in the marketplace area for my State. I understand that it is usually better to be closer to the properties you rent out, but I still was curious if investing in an Out of State property would be potentially worth it.

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Josh Caldwell
  • Investor
  • Dallas TX, United States
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Josh Caldwell
  • Investor
  • Dallas TX, United States
Replied

@Benjamin Aaron Parr  People invest out of state because they can't find decent deals closer to home.  You live in WV and there are a lot of deals near you. I happen to know an investor who owns more than 40 units in Charleston.  I also know investors who are doing quite well in Morgantown, Wheeling, and Follensbee (sp?).  The low price points across WV make it an easy area to get positive cash flow.  You just need to find deals to buy. 

Suggest that you hook up with some local wholesalers, there is a WV investors facebook page. You should also start looking at FSBO houses in your area. Concentrate your early BP learning on marketing and learn how to find the deals around you.

To your success

Josh 

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