Out-of-state investing for newbies
Hello! I was fortunate enough to have purchased a property a couple years back and have since pulled a HELOC out to leverage money and buy more property. I currently live in Seattle and have great difficulty finding anything under $800,000. Although there is house hacking and other strategies, my question is - How did you get started in out-of-state investing and what was the result? I appreciate all of your input and help! :)
Most Popular Reply
Hey Alex, I own 12-doors in Detroit and live in California.
I got started by living there from 2017-2022 and purchased my rentals in two years between 2019 and 2021. I realize most people won't move to the OOS location they end up investing in, and I don't blame them. I moved back to CA as soon as I hit my $15k gross monthly rents goal.
I now help others invest out of state whether that's Detroit or another high cash flowing market. Hit me up if you want to chat about it.