So I'm currently serving a 4 year term in the U.S Navy, and my term ends next year. Im going to school in Orlando, Fl, but I'm from Texas, and want my first investment property to be in the Dallas/Fort Worth metroplex. I'm more familiar with the area and market prices seem to be more affordable for my 20% down payment. My question is, is it wise for my first investment property to be out-of-state?
@Landon Beamon I agree with Loh. Out of state investing is all about your team. Have you connected with an investor friendly agent in the DFW area yet?
I am also managing a rental from a distance currently as I have a property in DFW and living in Seattle. It has been fine because I’ve utilized the local agents and investors and they have been helpful.
Landon - I'm in investor/agent/cpa in DFW and work. I have 3 rentals and my second one i bought out of state. You can do it, you just have to have a team in place. Feel free to direct message me for my contact info, i'd love to help you out and talk about the market!