Out of State Investing For A Newbie
I'm getting mixed messages on out of state rental property investing. Purchasing an investment in my own state is totally out of the question, I am out-priced.
Who has experience investing out of state (good or bad)? Specifically how did you decide which state to buy in? Yes, I understand it must cash flow and make sense financially, but my assumption is it would make sense to continue purchasing in that same state? What resources were helpful to you (or not) during the initial process? What would you have done differently?
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@Paige Hill I live in OC as well and understand where you're coming from. I decided to invest OOS using turnkeys. My experience has been great. Even with the turnovers, repairs, etc. I am still getting solid returns. For me, I focused more on B properties. My mentors always stressed the importance of "location, location, location". If you do this, you'll get a higher chance of stability in your rentals and less chance of nightmare tenants. In terms of markets, it really depends on what you like. Many markets have similar macro trends. I have teams in KC, Indianapolis, and Jacksonville so feel free to message me if you'd like to learn more about opportunities here!