I've done some investing in Southern CA a few years back, and I'm looking to go elsewhere for the next investment since prices here make no sense for investing. I was looking to get some ideas from others how I could maximize $200k - $250k by going out of state. My initial intentions are to acquire (2) properties with the money, but I'm still trying to narrow down a market, or possibly go with a turnkey company. I wanted some insights from others, how they would approach this. Thanks for any suggestions.
Nail down your goals first. What does "maximizing $200k" mean to you in terms of dollars vs time? How many hours a week do you have to dedicate to your investments? What other resources do you have at your disposal.
Turnkeys are all well and good, but they're not going to return as much as, say, value add multifamily or self storage. Figure out your numbers goal, pick a strategy, then move to picking a market.
I'm just leaving a meeting in Lexington with a partner who is from California. He has moved to Kentucky to focus on his investments. Not everyone can do that, though.
@Taylor L. That is awesome. We should hook and let your partner know to get in touch with me. Lexington, KY is where I live and help make others successful in our city. Your partner should come to our local REIA!
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