Advice on multi family out of state investing
Hey everyone, I’m new to the group and excited to learn from you all.
I’m currently based in Boston and own a rental here, but I’m trying to decide between buying another property locally vs. investing in an out-of-state multifamily for better cash flow.
Would love to hear from anyone who’s gone the out-of-state route:
• How did you pick your market?
• Did you use a property manager or build a local team?
• What were the biggest challenges being remote?
• Do you feel it’s been worth it vs. staying local?
Also open to any advice from people who chose to keep investing in Boston instead.
Appreciate any insights, just trying to get smarter before making my next move 🙏
Most Popular Reply
Hey @Joe Bouthillette, I have 2 out of state properties, for both of them I sort of backed into the market based on my criteria.. so I start with getting crystal clear on what I'm looking for (rather than starting with location), so: property type, purchase price, proximity to me, cash flow / appreciation goals, etc. Then I start narrowing down markets that fit.
Curious where outside of Boston are you thinking? If you share some of your property criteria I can try to nail down a few markets for you. Let me know!
