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Earnings schedule for next week.
I personally would say this is fine, as long as you find a management company you can trust. Lots of people do this and it is a great way you build wealth and generate passive cash flow
For sure. Bigger pockets has ample resources on long distance RE investing
Pro
+1 for bigger pockets.
Chief
I wouldn’t. If you want to do this, buy a single family REIT like American homes 4 Rent or Invitation homes. Let them worry about all the maintenance and property issues.
My fear is that a lot of stocks increased 28% over the last 12 months and are now taking a dump. I understand REITs are different, but underlying price is still controlled by the market vs actual performance no?
That is a really bad idea. You need to be able to keep an eye out on your property. Even if you are paying a management company.
Why not investing on crypto mining and get more profits, this is what most people do now to support their selves
Which city?
Chief
If the rental market is there, go for it! Not all markets will cashflow where the rent is more than the debt obligation + maintenance costs + vacancy + management fees. But once you find the right market that cashflows, you should definitely pull the trigger (even if it’s remote).
Bigger pockets is a great place to get started. There are lots of books and online content related to buying and managing remote rental properties. I have found that managing a remote property has gotten substantially easier in covid times as asking someone to FaceTime you to show you the work that they have done is much less awkward.
Hi Indeed 1,
I’m also looking to buy a investment property. Would you recommend the area where you bought? If yes, can you share the specific area?