Should I buy a house in another city in which I have no particular investment in just because the properties there are cheap and rent it out while I buy rent in my current city?

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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

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For sure. Bigger pockets has ample resources on long distance RE investing

likehelpful

+1 for bigger pockets.

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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.

likefunny

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.

likesmartfunny

Why not investing on crypto mining and get more profits, this is what most people do now to support their selves

likefunny

Which city?

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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.

helpful

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?

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I’m 32F living in one of the most expensive non-US cities worldwide. I reevaluated my financial plans and would like to get your thoughts and pointers from the wiser fellow here.
Have a 380k usd net worth, and my financial goals are:
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likehelpful

What % do you save on what total annual take home?

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Hello Mates!

My dad and sister co-own our house right now. Because my dad is a co-owner, does that legally indicate that myself and my mom will co-inherit the house with my sister after our father?
Or is an explicit will from my father required in this case, to allow me and my mother as co-owners after him?

Seeking some advice here.

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likeupliftingsmarthelpful

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