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4 Answers
- dog maLv 71 decade agoFavorite Answer
Only if you know the area extremely well, plan to visit there often (2-4 times a year), and have an absolutely trustworthy property manager in the other state.
I have income property in 2 states, but I bought the units in the other state years ago when I was a real estate broker there. We have an excellent manager and we visit often, and still there are some issues that we wish we could be there to deal with.
I would recommend that you stay local with your investments.
Source(s): Real estate broker, landlord - 1 decade ago
.... it would seem that you would need to satisfy a different motivation before it would be "a good idea".
but just to make this investment-move on an "out of the blue" offer to sell ... has many of the markings of a con.
be reeeaaaallll damn sure there's a reason why this sale is proposed ... which fits YOUR interests. <why is it being sold?>
- Genuine GuidanceLv 71 decade ago
In my opinion, it is not a good idea to be a long distance landlord.