Updated 6 months ago on . Most recent reply
Conrad - long distance investing!
Hi all! New to the game here, and just finished reading some notable books that sparked my inspiration to be a part of this!(Rich dad, poor dad was a start). I finished Brandon Turners book on rental property investing and am currently reading David Greene's book for long-distance investing! LD investing will be my goal for the medium term and hope to connect with others that want to own some cash flow properties! Cheers, Conrad
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#2 Out of State Investing Contributor
- Flipper/Rehabber
- Pittsburgh
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#2 Out of State Investing Contributor
- Flipper/Rehabber
- Pittsburgh
hello and welcome. we're happy to help. it's fine to continue to learn about OOS investing, i'd just urge you to be extremely picky and cautious. too many investors from HCOL areas like Seattle buy in the midwest solely based on price and then get absolutely crushed by deferred maintenance.
there's also no cash flow right now in LTRs in the short term - none, zero, nada. it typically takes several years to get a property stabilized, pay yourself back for your closing costs, get some rent increases, etc. YEARS. anyone who tells you otherwise is selling something.
I hope this helps. happy to dialogue further