investing out of state

General Real Estate Investing
1

I live in a very expensive neighborhood of NJ. The real estate bubble is bursting at the moment. It’s almost impossible to find a property around here to have positive cash flow. I know some investors sold properties in NJ and invested in some other states. I’m planning to do the same. What are some advice for out of state investors?

2

“Move closer to the food”!

Investing 101: Blue = bad, Red = better (generalization!)

If you feel as though you just gotta invest other than where you live, find good people on the ground there - either as partners or as in management professionals.

Keith

3

There is food here. Sell your house in NJ and put it in a house here. I was just looking at a house that is 5000sqft, with 6 bedrooms and 6 baths 3 car gargage with a pool only a block from the golf course for sale for $330k.

You can get yourself a decent job ($50k per year) and 20 of the houses of the type that I am buying they will yield you about $50k per year. You can live like a rock star. Remember it not about the money it is about the lifestyle.

4

“Rock stars” are swine…why would anyone want to live like that?

Keith

5

In fact, Texas is one of the states I’m considering to invest into. Relocating is not an option for me at the moment. How is the housing trend in the recent years in TX?

6

In recent years: UP

7

ja!!interesting idea!!!

8

I am also interested in investing out of state. Looking to invest in New Haven, CT. The market there seems good. Whats a good way to get a fresh list of FSBO homes in the area, or do you recommend just going through a broker/agent?

9

I agree that NJ is a tough market unless you goto the really bad neighborhoods or areas which have a very small population (certain parts of south jersey)…i’ve been looking for a while and still haven’t found anything…it’s very frustrating.

10

Orlando is huge right now and also Naples Florida. Condos are always nice because 9 times out of 10 they’re cashflow + here’s one if you’re interested… www.ibisclubcondo.com

the developer is a close friend of mine so he’s got some incentives for potential investors…