All Forum Posts by: Account Closed

@Danika Jeanton

I’d attack the student loan first, and then invest. We paid off my wife’s 50K loan 3 years ago. The feeling of being debt free is priceless.

@Craig Dieterich

I’d be less worried about taxes, and more worried about owning a D class rental long distance. It’s either a killer deal, or in a really really bad neighborhood. If it is in that bad of an area repairs and vacancies will quickly eat that $10,000 a year cashflow. If the tenants are solid I’d do everything to keep them.

@Christopher Smith the cost in California is ridiculous.

@KC Conti I have rentals in Indianapolis and South Bend. So far I haven’t had issues collecting rent. But, I believe that has more to do with tenant screening than it does with location. The eviction memorandum is nation wide. If there are deals in your area then I say invest there. Out of state investing can be a pain, and the overhead expenses are higher because you have to hire a PM. People invest OOS because they have to. It’s not optimal. If I lived in an area that had cashflow I would invest there.

As long as you can legally end their leases by providing notice, I would say it’s worth it. Check your local laws.  

@Sarah McCluskey I’d assume both units need a lot of work. Where is the property located? Is it in a state where it would be difficult to end the current tenant’s leases? At face value I’d say it’s a good opportunity.

@Sannibel Carter Go to school and get a great paying job. Work hard and live as far below your means as possible. Save save save.

@Darius Kellar you’re overthinking it

@Paul Berard you can always purchase with cash, and do a cash out refi later to increase your roi. Buying cash can help you compete with other investors in a hot market.

@Gaby Liu Don’t write off OOS investing because of one bad deal. Plenty of us have had success out of state. Can you elaborate on what happened?