Which is best? Investing locally or in another state? This question has been around forever. So what's the answer? Well, it depends.
It depends on your business goals, your level of experience, property values in your area, and to some degree the level of risk you can live with. This last one by the way is different for everyone.
Sometimes the Decision is Easy
For some real estate investors, deciding whether investing locally or in another state is best is a no brainer. If they live in an area where property values are so high that owning investment property doesn't make sense the choice is simple. A perfect example is southern California. Property is really expensive there.
On the other side of the spectrum is Louisville Kentucky where I live. Property is very affordable in my area compared to many other areas. Louisville a great place for someone in an area with high property values to own rental property. Turn key rentals are a great option, and I talk about that in this show. I also have a resource for you if this sounds like something you would like to learn more about.
One thing I am sure of is that you must have systems in place, boots on the ground and reliable property managers.
Where Can You Find “Boots on the Ground”?
I wrote an article a while back about a company called “We Go Look”. Just click here to find out more about the services they offer.
Learn More about Turnkey Investing in Louisville
If you want to invest locally here in Louisville, you can contact Freedom Property Group in KY. They are a great local resource.
You Can Listen to the Podcast Here – Investing Locally or In Another state
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