First Time Investment Property Buyer

[William Silva]

Hello BP Community,

I've managed to save up around $90,000 to invest in my first rental property. I live in Miami, FL and don't want to buy here since prices are incredibly high.

I want to invest in growing communities, not exactly sure if I want to buy an AirBnb as my first out-of-state investment or 3-6 month short term, or a 1 year+ property. Also not exactly sure which state I'd want to invest in.

Questions for you who do this successfully:
1. What has been your favorite state to invest in? (some of my own research: Georgia, SC, NC, OH, TN)

2. What is your favorite renting strategy in that state? (Airbnb, short term rental, 1year+)

3. I know I have more questions but I've drawn a blank... I'm sure with your responses, I will generate more questions.

Thank you for all the help! Gd bless

Note: I'm a licensed Realtor + MLO in Florida.

[Samuel Diouf]

Hey William, I actually moved from Florida to start investing in Columbus, OH. I haven't regretted it since.

I personally prefer LTRs because there are less moving parts involved, which makes it an easier business to scale.

If you’re looking to invest long distance, it's very important to establish a solid foundation by building a quality team around you. This team should consist of PMs, lenders, contractors, agents, and other service providers in the selected market.