Out of State Investing for Cash Flow
Hi all,
A few friends and I are trying to get started in our real estate investing journey and want to focus on cash flow from rental properties. Unfortunately, we live in Southern California, and we don't have the resources to pay a 20% down payment on a house. So we are considering investing outside of California to generate stronger cash flow from Day One.
Do you have any advice? What should we consider when looking at out-of-state properties? (turnkey investing vs. traditional?) We have been doing some research and have been advised to invest in-state (more familiarity with the area, laws, etc.). However, given our resources and the California housing market, this isn’t really an option for us.
Any advice is extremely appreciated! Thanks for the help!
Best,
Michael