Cash Flowing Markets Out of State
Hi,
I recently moved to Florida from Louisiana. We are renting our old house out and bought a new one in Florida.
The area that I bought in is pretty expensive and I can not afford to buy an investment property here right now.
I was curious to yalls thoughts on out of state investing in markets like Birmingham, Montgomery, Detroit, Chicago, and other markets where properties are relatively cheap? Ideally I would like to self manage, but wouldn’t mind using a PM if it just made way more sense and didn’t cost an outrageous amount.
Back in Louisiana we are self managing since we have family there, know enough people to call if something goes wrong, and we are back in town every month or so. So it makes sense for us to not use a PM currently.
Thanks!