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4 Questions You Should be Asking if You're Investing in CA Real Estate From Out-of-State

Posted by Ken Meyer on Tue, Nov 08, 2016

California off market propertiesInvesting in real estate is a big commitment no matter what the circumstances, but if you're investing in California real estate from out-of-state the stakes are even higher. You want to make sure you choose the right property and the right city. That's hard when you’re in an entirely different state. However, it's not impossible to find the perfect property for you even if it is across state lines. Below are 4 questions you should be asking to make sure you make the right decision.

What Are Your Goals?

Do you want to buy a fix and flip property, or are you planning on buying a property to own and rent? Knowing your goals will help you decide which property to invest in.

What City is Right for Your Goals?

Once you know your goals, you need to see what cities in California are best for that style of investment. If you're planning to fix and flip, you'll need to look for California cities where houses sell fast. If you are looking for a house to own and rent, you'll want to find a city that doesn't require a large sum to acquire a decent home since you won't make your money back right away. You also need to learn who buys, or rents, in those areas so you know who to tailor the house towards.

What are the Differences between California and Your State?

Not all states are the same. You'll need to learn everything you can about the California market, tax rates, and property values. You should know everything there is to know about buying and selling in California and the specific city you're planning to invest in. Are there any rules you need to know about? Will the buying and selling process be different from what you've previously experienced? These are all questions you need to know the answers to before investing any money.

Who's the Best Real Estate Agent?

Obviously, you're going to need some help finding a place. Once you know if you want a fix and flip or a hold and rent, and what city is best for your desires, you'll need to find a real estate agent. Do some research to find the best real estate agent for the type of property you want in the city you wish to invest in. You want someone with good communication, especially since you'll be communicating by phone or email. You want someone who understands your needs and is capable of producing great results despite the added challenges that being in different states present.

If you're investing in California real estate from out-of-state and need financial aid, please contact us today. We look forward to helping you invest in the perfect property.

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