Getting started should I buy in state or out of state
I live in venture California. Prices were already pretty ugh and will likely be overinflated for a while due to the big fire we had in December. I have been pondering if investing out of state makes more sense. What are people’s thoughts on doing that as a new investor?
What are good areas to do that in?
I’m hesitant to buy something far away. And might feel better buying somewhere near family or friends which put Phoenix Arizona and Evansville Indiana on my radar of places to try to learn about.
Most Popular Reply
Hello Erin,
Investing in a place where you have 'boots on the ground' (family and / or friends) is a great place to start. If I lived in an expensive area, it'd be a no-brainer to invest Out of State. Before diving in, I'd start with David Greene's book on 'Long Distance Real Estate Investing'. There he talks about the core 4. Here's a post on it (made by Greene) :
https://www.biggerpockets.com/renewsblog/core-four...
You can get a-lot of your questions answered in that book, and if you're seriously thinking about it I would use that as a foundation. Hope everything works out!
Mahalo,