Long Distance Investing
Hi all, my name is Jamie and I am new to this site. Like many here, I am now priced out of the DC market, and am embarking on my first long distance purchase. We're looking in Cleveland, Tampa, and Pittsburgh.
John, I would appreciate any advice or experience about this topic. I am eager to hear anything.
Why do you feel that you are priced out? If you are looking for investment property what really matters is to make the cash flow work.
HEy-
that's a good question. DC is pretty crazy right now. I purchase a condo from the city last year for 75k, and just sold it for 148k. (1 of only 5 properties in the entire city for that price) The prices for property in DC far exceed the rent you can get right now. I would prefer to buy in DC again, but I'm pretty much a bottom feeder