Hi! Sounds like a good idea to me, I would have never thought of it! Do you invest full time or do you have a job? You might have to have a management company manage your properties while you are away but once you obtain a substantial amout of properties you will probably opt for this anyways. You might want to build your portfolio up in you hometown a little bit befor you start out of state because you will be alot more confidient in yourself and if something goes wrong with the, out of state properties you will have fianicial ability to pull out of it! I also recomend that you flip your first few so you will have some money in the bank which also goes along with the confidience thing.
Ft Myers is nestled between higher priced Bonita Springs/Naples and Cape Coral. That is where I have all of my rental properties. You can get good cashflow in this area and the area is improving.
[addsig]
what kind of prices are you guys buying in at? Im in south al. where we have seen 100% appreciation in a few months. 2/2 condo 1000 Square feet around 600,000 here. not very good cash flow. $20,000 with management www.co.if lucky
Not at this time be ther in June in the fla area
Hi! Sounds like a good idea to me, I would have never thought of it! Do you invest full time or do you have a job? You might have to have a management company manage your properties while you are away but once you obtain a substantial amout of properties you will probably opt for this anyways. You might want to build your portfolio up in you hometown a little bit befor you start out of state because you will be alot more confidient in yourself and if something goes wrong with the, out of state properties you will have fianicial ability to pull out of it! I also recomend that you flip your first few so you will have some money in the bank which also goes along with the confidience thing.
Hope this helps you
Eric[ Edited by EBikas on Date 01/26/2005 ]
Ft Myers is nestled between higher priced Bonita Springs/Naples and Cape Coral. That is where I have all of my rental properties. You can get good cashflow in this area and the area is improving.
[addsig]
what kind of prices are you guys buying in at? Im in south al. where we have seen 100% appreciation in a few months. 2/2 condo 1000 Square feet around 600,000 here. not very good cash flow. $20,000 with management www.co.if lucky