I think it will be too much to buy for me to buy a home in the Bay area. I am considering staying here and buying one in a lower COL city like Austin. Has anyone done this? How difficult is it to manage a property from out of state?
Austin is not low col
Kansas City
Check out roofstock.com and fundrise.com
Roofstock*
Raleigh-Durham area
Raleigh, Nashville, Des Moines
Be careful. ROI may end up being break even at best and negative most likely. You are trying to buy and manage in an area you don't know well/understand. Take for example San Jose: goes from high middle class to ghetto by sometimes a matter of a few streets.
You won’t get any monthly revenue, all that money will go to the management firm you have to hire to actually run it and taxes. You’re banking on the increase in value. If you got a really good prop mgmt firm in the area that’s a different story. The depreciation on the asset does help if you’re good at taxes
I have done this. Not too difficult to manage. The pm company once in a while for approval of maintenance orders.
I don't think that it makes sense to target Austin for an out of state income property. I'd go somewhere in middle America where the rental yields are better.
Layoffs
Yesterday
9289
Google CFO confirms "large-scale" layoffs today (Apr 17)
Software Engineering Career
Yesterday
2549
28 terrorist worshipping idiots just got themselves fired and I've never been prouder to work at Google.
Tech Industry
Yesterday
1750
What is the appeal to NVIDIA?
2024 Presidential Election
Yesterday
1509
If you vote for Biden this year, don't complain about layoffs
Tech Industry
Yesterday
648
Do I have the dream job?
Pittsburgh mate, 300k u can get a mansion
Not true. Maybe 500k can
Yeah you can, Pittsburgh's housing market is supercheap