Living in NYC Investing in Iowa
Hey Everybody,
My wife and I want to start building our real estate portfolio and since we live in NYC we were thinking of out of state investments in Iowa. Reason is, low entry price, decent cash flow, and we've been to Iowa a few times since there are some family members there. We were considering a small multi-family in Cedar Falls but are also open to other suggestions. My preferred strategy would have been house hacking for our first investment but we have a great deal on rent in NYC, need to stay here for a bit longer, and surrounding areas are extremely expensive and oftentimes not very desirable. Curious to hear if there are any out of state investors in Iowa out there and what your take is. What to watch out for, pros and cons, etc. appreciate your help!!
Best,
Fabio
Most Popular Reply
I think you're looking at it the right way. If NYC doesn't make sense financially, investing out of state can be a great way to get started. Iowa has some solid markets, but I'd also compare it with Ohio since many investors choose it for the same reasons,lower entry prices, strong cash flow, and plenty of opportunities to scale. The biggest factor isn't the state itself; it's having a reliable local team that knows the neighborhoods, can verify your numbers, and manage the property well after closing.