Investing In A Different State

3 Replies

I strongly believe in investing where you know. It is harder to get to know a market out of your area. Investing out of your area increase cost (travel) and/or risk.

There are many people who do it successfully but don't assume the grass is greener somewhere else.

Great idea, as in, always? No, of course not.
It depends on where you live, and what you want. North Carolina is not, as far as I know, an area that is overpriced- you may be better off in your own backyard.
You can find loads of information on places using your friend Google. Search for the state, the county, the town, find info on demographics, census info, chamber of commerce reports. Compare a bunch of different areas and see what you can see. Then start calling people in those areas and see if they confirm your suspicions or not. It's not rocket science, but it can be tedious- unless you like that kind of thing :)

America's Private Lender
Receive Fix and Flip Funding Approval In As Little As 24 Hours!
Sharestates helps developers and brokers secure funding quickly with the most competitive terms.
Get Funded

I would be very careful investing out-of-state. I've seen people lose a lot of money doing that. If you do, research the area carefully and vet your team very carefully (I've run across more than a few unscrupulous investors who sell out of state).

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

We hate spam just as much as you