Out of State Rental Property Investing

Real Estate Broker · Roseville, CA · Member since 2014 · 13 posts · 3 votes

I am a Real Estate Broker in CA and I am wanting to start my journey to investing in Rental property. What are the thoughts around to purchasing rental properties in different states while living in CA?

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David Hutson

Rental Property Investor · Tampa, FL · Member since 2013 · 404 posts · 421 votes

Evening @Lance Dengate,

There are numerous threads on this here on BP. Many investors from CA invest out of state due to the prices here (I'm down the freeway in Elk Grove). I have been investing out of state for five years now and have 15 homes in Memphis. For me, that made the most sense. You will find CA investors investing in all of the popular markets throughout the U.S. There are about 10 that are discussed often and hundreds that aren't as popular.

Set up your criteria for homes, returns, quality of properties, etc and then start looking markets. Narrow it down to three and then really start to research them and search the threads here to find the best place for you.

Feel free to message me if you want to meet up for a Jamba Juice or lunch sometime. Also, there are three REIA groups in town, including 1 in Roseville plus the Real Estate Round Table that meets every other Monday off Fulton and 80.

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David Hutson
Rental Property Investor · Tampa, FL · Member since 2013 · 404 posts · 421 votes
7y
Evening @Lance Dengate,
There are numerous threads on this here on BP. Many investors from CA invest out of state due to the prices here (I'm down the freeway in Elk Grove). I have been investing out of state for five years now and have 15 homes in Memphis. For me, that made the most sense. You will find CA investors investing in all of the popular markets throughout the U.S. There are about 10 that are discussed often and hundreds that aren't as popular.
Set up your criteria for homes, returns, quality of properties, etc and then start looking markets. Narrow it down to three and then really start to research them and search the threads here to find the best place for you.
Feel free to message me if you want to meet up for a Jamba Juice or lunch sometime. Also, there are three REIA groups in town, including 1 in Roseville plus the Real Estate Round Table that meets every other Monday off Fulton and 80.
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Lance Dengate
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Real Estate Broker · Roseville, CA · Member since 2014 · 13 posts · 3 votes
7y
@David Hutson Thank you very much for the feedback. I was looking at Memphis and some other areas as well.
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Simmy AhluwaliaPro Member
Lender · Atlanta, GA · Member since 2015 · 1k+ posts · 200 votes
7y
Plenty of west coast investors invest in alternate cities because the yields are better on the purchase price vs. monthly rent. I'm in Atlanta, GA, and we have many west coast investors investing in buy/holds, flips and new construction.
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Nathan GesnerBusiness Member
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Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
7y
@Lance Dengate have you read the book "Long Distance Real Estate Investing" by @David Greene or watched his podcast? Good information.
The DIY Landlord Book4.7243 Reviews
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Lance Dengate
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Real Estate Broker · Roseville, CA · Member since 2014 · 13 posts · 3 votes
7y
@Nathan Gesner I have not read his book but I love new education. Thanks for the book referral!
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