I interested in investing out of California. I am debating whether to invest in San Antonio TX, Austin TX, or Denver Colorado. I would appreciate any feedback on investing opportunities…

I just had a client from California come out here to Provo Utah to invest in some rental properties. The market here is very healty and we have a very large student base with both Brigham Young University and Utah Valley State College. He was able to put $40,000 into an 8 student duplex and get the cashflow with an intrest only loan to $1,100/month in the posative. If you are interested, let me know and I will email you all of the current listings in our area.

make sure you get some sort of education or do some research on investing. dont go out there just to invest and speculate on appreciation. learn how to figure out your exit strategy like long term hold which involves like owner/seller financing, purchasing mortgage notes, or plain rentals. Short terms are flipping/rehabbing. Or you can mix both by rehabbing then renting.

Learn how to crunch numbers and learn how the mortgage business works. Team up with a loan officer and a hard money lender so you know the finances.

Build relationships with money partners and experienced investors if you feel that you cant acquire the property yourself or if your money is tied up. Best thing you can do is to learn from others successes and failures.

since we're both in california, id focus on rehabs here and do rentals outside of our state. you can buy 2-3 properties outside CA for the price of one home in CA.

hope this helps

exactly what i would suggest alvin

thanx for the replies. I'll definitely take them into consideration...

I mainly deal with income property and would agree that rental property is good investment.

With home appreciation rates at their highest levels across the nation, our rental markets are strong. This is a great (safe) investment to get into and build equity.

As Alvin mentioned, research is always key.

I don't have a figure for Provo, but here are some area appreciation rates distributed by NAR for the 4th quarter, 2005:

Salt Lake City: 14.2%
San Antonio: 11.7%
Houston: 8%
Corpus Christi: 14.6%
El Paso: 23.3%

With cities like Phoenix and Fort Myers, FL heading the list near 48% appreciation, my opinion is that the above cities have plenty of room for appreciation growth in the upcoming years.

Hope this helps.

I am also from California and I have heard of investors who are living in California and having rentals in Nevada. So I have a few questions.....


How hard is it to manage rentals in other states?
(Living over 10 hours away from your investments)

Do you hire a property manager?

If so does it cut deeply into your profits?

wow old thread.

if youre going to do a long term rental, research this commercial type strategy called triple net lease(NNN). if you have a tenant on a NNN basis, that means that tenant is 100% responsible for principle, interest, taxes, insurance, maintenance, management, repairs, etc. so you wont have any landlording responsibilities, no property manger and no negative cashflow.

^^^^

I decided to hit the search button instead of starting a new thread. LOL.

Anywho,

Ive heard of the NNN thing and I was wondering if you have done this and If it is successful? I heard that renters are turned off by this because they rent for the sole purpose of not worrying about maintenance or repairs. Have you experienced this? How do most RE investors handle out of state investments when it comes to being a Landlord?

my partner has successfully done over 200 transactions within 5 years using a trust that holds the property and finding co beneficiaries aka tenant/buyers to NNN lease from the trust with the first right of refusal to buy at future market value. my partner is also a loan officer but wears an investor's hat majority of the time.