Looking to make first investment out of state TN, SC, NC

[Ryan Heilig]

Hello, I live in CA and am looking to make an investment in TN or the Carolina's I we will most likely relocate out that way in the future. I do not want to invest in CA due to laws, politics, costs etc...I have  a good income with a full time job and 100-200k to begin building a portfolio with. I am looking for long term rentals & passive income and to reduce my current tax liability. Reading and learning as much as I can but welcome any advice, suggestions etc.. I already have stock holdings and looking to diversify with a real estate portfolio. Looking at starting with a small rental 3/2 or smaller multi family. Looking to build out a team to help with the process and grow for the long term. Any recommendations on mentors, realtors, PM's and real estate friendly CPA's are appreciated.

[Vicki X.]

@Ryan Heilig If you plan to move to one of those places, I suggest first form an opinion about where you'd like to live in the future, and factor that in. Even if you work with PMs, being close to your properties will still be a plus.

Also decide whether cash flow is most important for you, or good enough cash flow with less hassle, higher quality tenants, or even appreciation potential. That will determine the type of properties and the price range you want to focus on.  

I've looked at NC and TN but haven't invested in either. Distance and lack of time was the main reason.  I was in Raleigh area (around RTP) a few weeks ago and liked what I saw. But I don't know enough to give a strong recommendation. At the end, market is efficient.

Check out @Randy Rodenhouse's post as he commented on SC. He raised the issues of high property tax for investors and insurance there. I also knew that SC is not as friendly in terms of regulations.

Hope it helps!