Looking to Invest Out of State
Hello!
New to these forums but have been following real estate investing for a couple months now since buying my first multi-family property in Southern California. Since the market in CA is ridiculously expensive, I am looking towards investing in multi-family properties out of state. I've been reading David Greene's Long-Distance Real Estate Investing to build some knowledge but I don't want to get stuck in the analysis paralysis phase and would like to take action as soon as possible.
I'm mainly looking for small multi-family properties (duplex, triplex, fourplex) to start with and eventually expand towards commercial properties. So far, I've narrowed it down to a couple cities that I have done some research on but ultimately, I would like to build a team first and have boots on the ground to follow. I still have a lot to learn and hopefully the BiggerPockets community can provide some good insight. Open to networking with like-minded people and possibly connecting for future opportunities!
Most Popular Reply
Best of Luck in your search.
The multifamily cap rates look very attractive in Midwest and Midsouth. One criteria for me will be the quality of tenant and the turnovers.
I also live in southern ca and invest in memphis and consistently have been advised to look for single family rentals in b plus neighborhoods.
just my two cents..