By: Michelle Wong
Real Estate investing in other states has been very lucrative and is thriving. New York was one a powerful market for investors but only the powerful individuals or companies that have the large sums of money invest in New York. There are great investments to be made outside New York State. In fact most of the successful transactions are being made in southern states on the east coast or Midwestern states. The reason is you can get more bang for your back. Other states have a better market for investors looking for turnkey opportunities, fix and flip, buy and hold, etc. The prices to invest is also reasonable, for the one property to buy in New York you can two or three properties for the same price.
The other positive outlook is there is plenty of places you can research and market without feeling of being in competition with other investors. With so many cities, states, properties types and niche you are looking to market the possibilities are endless. The other thing that also useful is working with other people that are in the area you want to market, by partnering up with them you can gain more traction and cover more ground. One thing that might worry an investor who is out of state, how would I know this is a sound investment? That is where it is beneficial to connect with local residences that are also looking to do their own investment deal. Whether it is a partnership or joint venture you can gain experience and knowledge from someone who lives in that city or state. I recommend that you work with people that are referred by sources within your circle or possibly you know that happens to be in that market you want to approach. I am currently using this method to help expand my company, I have people that work with on partnerships and joint ventures and they are mostly in out of states areas.
Jehovy Santiago from JehovyPhotography.com
The WYM Group Blog
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