I am looking at an out of states home, I am wondering if I should buy a brand new home or get a used one. I heard that new home get more in return and less maintenance. The down side is that it costs more and tenants are not going to take good care of it.
Any suggestions?
Newbies
Unfortunately, investing in real estate is not as simple as choosing whether to buy a new or used house. First, you should decide why you are buying the house - i.e. cash flow, appreciation, etc. After you’ve decided why you are buying an investment property, then buy a house that will meet that goal. Personally, I don’t care how old the house is - I only care about the numbers.
My suggestion to you is to start with some education. I recommend the Carleton Sheets course, but just about anything would probably be helpful.
Good Luck,
Mike
I suggest buying something close by, so you can keep an eye on it. Starting out in another state with no experience is usually a destination for failure.