Updated almost 7 years ago on . Most recent reply
Purchasing Out of State
Hello BiggerPockets! I’m new here, and to Real Estate Investing! I’ve spent the last year (roughly) learning from reading BP forums, and from relationships I’ve made with local REIs.
I have a question for the whole forum: Would you purchase property out of state? I am very fortunate to live where I live. The downside, extremely high property values (many overvalued), and drastically high taxes.
I have considered purchasing property in other states, including North Carolina, South Carolina, Florida, Connecticut , etc.
I have reached out to several management companies who deal in some (or all) of those states.
I don’t think there is necessarily a right or wrong answer to this question, just a personal preference. What do you all think?
Most Popular Reply
I've been investing out of state for over 10 years. My main tips are - make sure you find a great property manager, because it's all about management. And also start building relationships with local investors.
Let me know if I can be of any help.