Updated almost 10 years ago on . Most recent reply
New California Member
Hi everyone, I have been interested for a long time on learning how to invest, especially in real estate. I'm looking forward to all of the new information I will have access to via this site.
Most Popular Reply
Welcome to BP! If you're looking to learn, you could not have found a better community to help do so.
As for looking at properties out of state vs in state, there are definitely pros and cons of both. As a first time homebuyer, though, I would definitely recommend looking into the benefits of owner occupied investments.
For one, unless you plan to move into the property out of state as well, you will still have to pay rent on wherever it is you choose to reside. So, investing in an in-state owner occupied rental (most likely multi-family) will mean that the money you have previously been using for rent will no longer be an outright cost and will begin working for you (along with whatever rental income you generate) by way of building equity.
Tons of other things to consider on both sides of the equation, but capitalizing on the benefits of an owner occupied investment tends to be very wise for new investors. Feel free to reach out with any questions!