All Forum Posts by: Adam Ortiz
Adam Ortiz has started 1 posts and replied 2 times.
Post: Buying my first investment property out of state?
- Posts 3
- Votes 4
Quote from @Tim Ryan:
Hey Adam, this is possibly, yes. The key is to pick the right out of state market. There are many ways to buy cheap elsewhere but still lose your shirt. Doing it right will pay off. I disagree that you need buy your own home first. I preach the exact opposite. For sure get an investment property first which is affordable (out of state), then later, buying your primary home will be even easier with lenders.
Hey Tim,
Thanks for your perspective. I looked into trying to house hack in LA, with roommates or multi family but it just doesn’t seem worth it with the numbers.
Can we connect to talk a little bit more about investing out of state?
Post: Buying my first investment property out of state?
- Posts 3
- Votes 4
Hey everyone,
My biggest dream is to own my own property, and start developing some cash flow. I’m currently a teacher in Los Angeles and the real estate market is out of reach for me where I live.
I was thinking of investing in a rental somewhere in the Midwest (Cleveland?) somewhere in the price range of 50k-100k, because thats what I can put a 25% down payment on.
It sucks not being able to take advantage of an FHA loan for my first home purchase, but I don't see myself moving soon because my entire family lives in LA.
What do you think? Is this a good idea? I’m