Out-of-State LTR Investing
Hello,
I own 2 properties (1 sf, 1 duplex) in Minnesota, and find that the rules, fees, tenant laws, taxes, etc. In Minneapolis are making it very hard to be profitable. The best thing i seem to have going is appreciation, which is nice, but cashflow is struggling a bit.
What are the best out of state markets, and who has invested out of state? What are the major pros and cons, and tips to making it successful out of state? Open to all shared knowledge.
cheers,
Dan
Most Popular Reply
It depends on what you are looking for. If you are seeking cash flow, a linear market is usually the best. But if you want faster appreciation, look at markets that have lots of job and population growth. You need to have a good property management in place too. I live in SoCal and have several properties in the midwest and south.