Skip to content
Learn
Get Started
Learn SMARTER Real Estate Investing Real Estate Syndications
SMARTER Phases
Strategy Market Acquisition Rehab/Rent Tracking Exit Repeat
Resources & Media
Interactive Bootcamps Self-Guided Bootcamps Pro-Exclusive Videos Events Webinars Podcasts Books Blog Resource Hub Guides
Summer Bootcamps Open for Enrollment
Pick your 8-week bootcamp: Short-Term Rentals, Small Multifamily, or Rookie?
Free Webinars
Real estate investors break down the basics, and share tips on how to get your next deal.
Tools
Calculators
Rental Property Fix And Flip BRRRR Wholesaling Mortgage Payment 70% Rule Airbnb Rent Estimator Rehab Estimator
Software & Services
Tenant Screening Property Management Lease Agreement Packages RentRedi Insurance Pro Partners
Find Deals
Real Estate Listings Find Foreclosures Real Estate Syndications Off-Market Deal Finding
Pro Membership
Get unlimited access to tools and resources that make it easier to find, analyze, and manage deals with confidence!
Build Your Team
Suggested Vendors
Find an Agent Find a Lender Find a Tax & Accounting Pro Find a Financial Planner Find a Property Manager
Vendors & Partners
Build Your Team
Search
Members Businesses Classifieds
Events & Meetups
BPCON2024 Local Meetups
Agent Finder
Investor-friendly agents who get the best deals done.
Lender Finder
Investor-friendly lenders who can get you the best funding for your strategy.
Forums
For You
Newest Trending Unanswered My Discussions Followed Discussions Followed Categories Followed Locations Followed People
General Real Estate
General Real Estate Investing Starting Out Deal Analysis Buying & Selling Business & Marketing Landlording Property Management Reviews & Feedback
Real Estate Strategies
House Hacking BRRRR Short-Term Rentals Mid-Term Rentals Multi-Family Fix & Flip Other Strategies
Finance & Financing
Lending Creative Finance Personal Finance Taxes & Legal Issues
News & Announcements
Official Site Announcements Market Trends & Data Real Estate News & Current Events Pro Exclusive Area
Events & Networking
Events & Meetups Classifieds Off Topic
Blog
General Real Estate
Real Estate News Market Trends Financing Landlording Tips Personal Finance Taxes Opinion
Top Strategies
BRRRR Short-Term Rentals Multifamily House Hacking Flipping
A Wave of Zoning Law Changes Could Have Huge Impacts for Investors and Housing—Here’s What You Need to Know
The U.S. is facing a housing deficit of about 3.2 million units, and the situation is especially dire in urban areas like New York. It’s one of the reasons prospective homebuyers are finding […]
Do You Think It’s a Tough Time to Invest? It’s Not When You Can Get Deals Like This
Are you sitting on the sidelines in this market? Many investors are. There’s a lot of fear and caution. But we’re not. And you don’t need to be, either.  Of […]
Store
All Books
Browse All Best Sellers New Books & Pre-Orders Bundle & Save Books for Beginners
Simplify your goals and find clarity for your investing
Dave Meyer's newest book gives a practical framework to craft and execute YOUR personalized real estate plan.
Save money and time with efficient property management
Make the most of your time and money as a DIY landlord. Pre-order your copy before April 25 for exclusive bonuses!
Followed Discussions Followed Categories Followed People Followed Locations
General Real Estate Investing
HomeForumsGeneral Real Estate InvestingFrom NYC to out of state investing Help
Ricardo S.'s profile image
Ricardo S.'s profile image
Ricardo S.
  • Flipper/Rehabber
  • from Atlanta, GA
  • Member since Jun 9, 2014
Connect

User Stats

163
Posts
80
Votes
Ricardo S.'s profile image
Ricardo S.'s profile image
Ricardo S.
  • Flipper/Rehabber
  • from Atlanta, GA
  • Member since Jun 9, 2014
Connect
Ricardo S.
  • Flipper/Rehabber
  • Atlanta, GA
80
Votes |
163
Posts
General Real Estate Investing

From NYC to out of state investing Help

Ricardo S.
  • Flipper/Rehabber
  • Atlanta, GA
Posted Aug 9 2014, 19:51

I currently live in Brooklyn NYC and as we all know, the property prices here are ridiculous.

My question is if I wanted to finance a duplex or a 4plex out of state, do I have to go to that state to obtain a bank loan or can I use Chase bank in NYC to apply for a loan for a house in Philly. Is that legal?

I'm asking because I realize that I can probably qualify for a 100k loan if I make 35k a year and I can get my moneys worth if I buy a duplex out of state. Whereas in NYC a 100k loan can probably buy a 1 bm 400sq condo.

0 Votes
Follow
3 Replies
Jump to Last Reply
Log In or Sign Up to Reply
Sort By:

Loading replies...