Updated about 10 years ago on . Most recent reply
First time investor seeking advice
Hi all, I'm a new member who has just started the process of looking into investment properties to buy. I currently live in New York City and I have been licensed for 4 years as a real estate agent, working in luxury rental buildings as a Leasing Agent. I am very familiar with rentals but not so much with the sales side of the business. Ideally I would like to purchase a property and rent it out.
I know I can get a lot more bang for my buck in other states either purchasing a single family or small multifamily property. I am in no rush but I have saved a lot of my money and I am ready to invest in the right property. I'm reading up on anything I can and educating myself to the best of my ability during my downtime at work. I signed up for BiggerPockets hoping to get advice from anyone who has experience with investment properties. I would love to hear what you have to say and wondering pitfalls/benefits to purchasing in another state. Any thoughts on areas I should focus on, general advice, things to look out for getting mortgages out of state etc. would all be of help. Looking forward to connecting!