✅ Check out our out-of-state real estate investing course Remote Rental Riches - courses.digitalnomadquest.com/p/remote-rental-riches which teaches you step-by-step how to acquire your first rental property!
$700/mo is good profit. Some people SPEND that on cars. $700 x 10 of these properties = $7000/mo. That's nothing to laugh at. But I'm not surprised you got hate. People who are on the sideline and have no clue what they're talking about always seem to have the most to say. Keep at it!
Great video Sharon!! We're invested in Arkansas and live in Las Vegas. We happen to have family there so that was a big influence in us deciding to invest out of state. It's been over 2 years now and we're so glad we did it. Thanks for sharing! Subscribed!
I'm so excited to purchase a rental property out of state! I'm hoping for the market to pop and come down a bit in price and then I can really take advantage 😁
I invested in California in 2012 and 2013. It's too expensive there now. I'm buying properties out of state now and getting a much higher ROI than in CA. Out of state investing is not scary if you have assembled a good team of realtors and property managers.
Hi sharson! I live in San Jose ca and I’m looking to buy a brand home in Texas for 220,000 for a rental property. I’m going to put 20% down- after doing the math if I’m lucky I’ll make 100 to 200 or just come out even. Is it even worth it??
Can you do a tax video. Strategic tips, llc vs s corps, and how you guys set up your structure to keep taxes from eating away at your profits? What’s the taxes like when you have multiple properties in multiple states with state and federal taxes? Great info and vids I’m a happy subscriber!
Trying get into real estate investing. I’d like to start with wholesaling because i don’t have a lot of capital to start with. Your vids have been helpful thanks! I need to learn as much as possible and start working towards my financial independence!
I like the fact that you thinking out of the box. For the most part, everyone wants to own properties in the most popular areas, San Francisco, LA, San Diego but for investment, it's hard your right. I would love to pick your brain one day and discuss what are you looking for other than the price in the out of state investments and how do you choose the right property management company.
@@Evelyn4Pz I was thinking about them for a while - bought a book around it and was studying it and watching a bunch of YT videos on it. Like the idea of a low cost entry point, but am scared about how it's usually a depreciating asset!
sounds like excellent advise. If you can buy a property free-and clear for the cost of a downpayment in an expensive area, it's pure cash flow. I think the concern is how to check on the property and handle repairs and finding property management to take of things for you in a reliable fashion.
Your TikToks got me interested so I subscribed to your TH-cam. I have a question about taxes on OOS rental properties, i live in CA as well, does this become added taxable income?
I think its better to have management near your property so the manager or supervisor can physically drop by for inspections anytime. This also includes posting notices for entry, violations, and rent collection.
Hi Sharon! Thank you for the video! I have been watching your videos for more than 2 years, since pandemic starts, I have the same thoughts as you, but I haven't had enough confidence to invest out of state, I have a friend invested 12 properties in south California, she told me not to invest any property out of my area. Cuz the property management would screw me up, how could you successfully manage your five investment property out of states? Not sure if you could guide me on this ?
I have been scammed many times by fake hackers not until my friends told me about this legit man called Hackerzhiyong on telegram I got paid daily through his best bitcoin software 🥰
Personally, I would like to only buy in areas and states I’ve lived in for a little bit and or visited and fell in love with. There’s only so much research will show. Like home buying. The pictures and often times deceiving and just going in person and feeling the vibe of the neighborhood says ALOT about the property. I’m currently saving money so I can start buying my investment property and made a 5 year plan. Covid just might work in my favor.. Also, I think it’s awesome that you are thinking about your tenants in your 4 plex property. Many people hate on landlords, but we all worked hard to get up there and someone has to do it. If we can all be intentional and driven, I believe you can do just about anything!
That makes sense! And also in the future, I'd love to own places around the world that I'd Airbnb out and vacation to if I could. Excited for your journey - you got this!
Sharon For sure! I plan to buy in Puerto Rico because my husband is from there and knowledgeable about the island. And we visit often to see family anyways. So we want to have Airbnb properties there! I’m excited about our journey! Thank you!
I was looking to see if you had any advice on how to prospect of state, to attract the type of investors like yourself. I just became a realtor in east Tennessee, and this idea struck me immediately as the best possible client to seek.
I don’t know how to start! My co worker invest in property out of state but dont share how at all! I i make $4000 a month disposable income. I what to make that money work for me so i can relax and go travel. I lived in San Diego. Good way to save money - move close to your job and bike to work! I sold my car and use my e bike to ride to work
I can't believe you got hate. I just wrote you on TikTok. And so then I found you here. I was the one who said I would love to hear more about this and did you buy in California. No I assume it's not.
in the UK, we have the word "Rentvestment". It is pretty new, but as millions have been priced out of buying where they live, the idea is similar to this video. Rent where you live, invest in property where you can afford. It is npt the best of worlds, but it is the modern reality. Yields are so poor in the UK, am actually considering buying US even with higher mortgage rates
@@panamalucy2155 hello I'm new to real estate investment and would like some information on Alabama. I have investments N.Y, but would love to invest out state thanks
You still have to be careful with out of state investments. A lot of people in those other states are living on minimum wage and are duel earners, and cannot afford higher rents other than what they are paying right now. It might work in a place where there are higher paying jobs in those areas, but it is kind of tricky. You also have to consider the costs of traveling to those areas as well or pay a management company or both. Put it all together and these are all costs that have to be taken into account.
I agree with buying out of state. However, you can also house hack your bay area home with all your friends. If willing to move further away from the city.
I have been scammed many times by fake hackers not until my friends told me about this legit man called Hackerzhiyong on telegram I got paid daily through his best bitcoin software 🥰
I have been making losses trying to make profit trading. I thought trading demo account is just like trading the real market... can anyone help me out or at least advise me on what to do?
Pray for world peace. Then war will end soon. Start investing now assets. Then more & more, bigger & bigger properties. After 15 to 20 yrs, you'll be a multi-millionaire by that time.
✅ Check out our out-of-state real estate investing course Remote Rental Riches - courses.digitalnomadquest.com/p/remote-rental-riches which teaches you step-by-step how to acquire your first rental property!
$700/mo is good profit. Some people SPEND that on cars. $700 x 10 of these properties = $7000/mo. That's nothing to laugh at.
But I'm not surprised you got hate. People who are on the sideline and have no clue what they're talking about always seem to have the most to say. Keep at it!
Fernando Dunn Forreal!! thanks for the support!
I was hoping for more detailed pros and cons such as tax implications and mortgage considerations.
I have properties in 3 states. My best deal is a house completely renovated that all in cost $24.5K and rents for $800!
Woa congrats! was that a purchase from a while ago or recent? I need to get to your level :D
@@SharonTseung I bought that one in April. I currently have 14 units, but should be up to 20-25 by year's end.
Do you have different property management companies for each state?
Great video Sharon!! We're invested in Arkansas and live in Las Vegas. We happen to have family there so that was a big influence in us deciding to invest out of state. It's been over 2 years now and we're so glad we did it. Thanks for sharing! Subscribed!
Congrats that’s amazing! And thank you so much! 🥰
People don’t understand that 700 bucks can go a long way. Keep doing what you doing. I’m working on my first out of ayate property
Do you have a video where you outline the Dos and Donts of investing out of state?
Good video idea, will work on it ;)
Great video! I live in NY and only invest out of town because the real estate is more affordable and more landlord friendly.
I'm so excited to purchase a rental property out of state! I'm hoping for the market to pop and come down a bit in price and then I can really take advantage 😁
Yesssss!
Hit me up about Huntsville Alabama...i am realtor in Huntsville 🙂🏡🏡
We're all still waiting 😥
Hey Bay Area neighbor!!!! Do you pay all cash?? So if the house is $20,000-$50,000 do you have all cash or a loan?
I invested in California in 2012 and 2013. It's too expensive there now. I'm buying properties out of state now and getting a much higher ROI than in CA. Out of state investing is not scary if you have assembled a good team of realtors and property managers.
Yessss!🙌
Hi sharson! I live in San Jose ca and I’m looking to buy a brand home in Texas for 220,000 for a rental property. I’m going to put 20% down- after doing the math if I’m lucky I’ll make 100 to 200 or just come out even. Is it even worth it??
Hi Sharon Tseung, how di you qualify for your first loan? Did you have two years of consistent income?
CBW0314 yes I did!
Do you have to open a LLC with each state? Or how does that work?
I’m in the bay too! Looking forward to more of your videos
Nice! Thanks for watching!
good video Sharon love your tiktok s 👍😂
Thank you!
I live in theBay Area too. Your videos give me inspiration to look outside the box! I want to say thank you and keep doing what you doing 🙏
Thank you for watching!
So much great information in this video. Thanks for sharing!!
Great video. Trying to do the same. What property management company do you use?
You were the first person I ever heard of buying out of state. Thanks for the inspiration 🙏 🙌 ❤
No problem! I’m happy to hear that!
completely agree. $700 4 units is a good start!!! Which out of state city do you invest?
Thanks! Central Texas, I'll go into more about how to research markets
@@SharonTseung awesome, thanks for sharing!!!
Can you do a tax video. Strategic tips, llc vs s corps, and how you guys set up your structure to keep taxes from eating away at your profits? What’s the taxes like when you have multiple properties in multiple states with state and federal taxes? Great info and vids I’m a happy subscriber!
Trying get into real estate investing. I’d like to start with wholesaling because i don’t have a lot of capital to start with. Your vids have been helpful thanks! I need to learn as much as possible and start working towards my financial independence!
Rui Saturnino de Oliveira yay I’m happy to hear that! Will be posting more around REI :)
I like the fact that you thinking out of the box. For the most part, everyone wants to own properties in the most popular areas, San Francisco, LA, San Diego but for investment, it's hard your right. I would love to pick your brain one day and discuss what are you looking for other than the price in the out of state investments and how do you choose the right property management company.
Also, how do you feel about mobile homes? Are they good passive income?
Will make more videos on these!
@@Evelyn4Pz I was thinking about them for a while - bought a book around it and was studying it and watching a bunch of YT videos on it. Like the idea of a low cost entry point, but am scared about how it's usually a depreciating asset!
Awesome, I agree....thanks
No problem! Thanks for watching!
sounds like excellent advise. If you can buy a property free-and clear for the cost of a downpayment in an expensive area, it's pure cash flow. I think the concern is how to check on the property and handle repairs and finding property management to take of things for you in a reliable fashion.
I live in Orlando, got advice?
I actually think that could be a great market to invest in!
Good job! I live in the Bay Area too. Which out of state city did you invest?
Your TikToks got me interested so I subscribed to your TH-cam. I have a question about taxes on OOS rental properties, i live in CA as well, does this become added taxable income?
Do you have to have a different property management companies for each different states? Or can you have one For All Of them?
I think its better to have management near your property so the manager or supervisor can physically drop by for inspections anytime. This also includes posting notices for entry, violations, and rent collection.
@@robertha Agreed!
Yea definitely have a boots on the ground property management company! I actually have 3 different companies I work with for my 6 units
Thank for this video. I live in California but I moved from Atlanta. I plan on investing in a property in Atlanta next time I visit.
Been learning a lot from your videos! In the process of buying a tri-plex out in TX while I live in NY. Thank you for the inspiration
Any recommendations as far as a good property management company in texas i live in N.y myself? thanks
Or realtors
Hi Sharon! Thank you for the video! I have been watching your videos for more than 2 years, since pandemic starts, I have the same thoughts as you, but I haven't had enough confidence to invest out of state, I have a friend invested 12 properties in south California, she told me not to invest any property out of my area. Cuz the property management would screw me up, how could you successfully manage your five investment property out of states? Not sure if you could guide me on this ?
Yo. So do u do the deals on ur own or how do u even find the right realtor?
I have been scammed many times by fake hackers not until my friends told me about this legit man called Hackerzhiyong on telegram I got paid daily through his best bitcoin software 🥰
Personally, I would like to only buy in areas and states I’ve lived in for a little bit and or visited and fell in love with. There’s only so much research will show. Like home buying. The pictures and often times deceiving and just going in person and feeling the vibe of the neighborhood says ALOT about the property. I’m currently saving money so I can start buying my investment property and made a 5 year plan. Covid just might work in my favor..
Also, I think it’s awesome that you are thinking about your tenants in your 4 plex property. Many people hate on landlords, but we all worked hard to get up there and someone has to do it. If we can all be intentional and driven, I believe you can do just about anything!
That makes sense! And also in the future, I'd love to own places around the world that I'd Airbnb out and vacation to if I could.
Excited for your journey - you got this!
Sharon For sure! I plan to buy in Puerto Rico because my husband is from there and knowledgeable about the island. And we visit often to see family anyways. So we want to have Airbnb properties there! I’m excited about our journey! Thank you!
I was looking to see if you had any advice on how to prospect of state, to attract the type of investors like yourself.
I just became a realtor in east Tennessee, and this idea struck me immediately as the best possible client to seek.
You are speaking to my life
Is all about passive income. I love it 🥳
I don’t know how to start! My co worker invest in property out of state but dont share how at all! I i make $4000 a month disposable income. I what to make that money work for me so i can relax and go travel. I lived in San Diego. Good way to save money - move close to your job and bike to work! I sold my car and use my e bike to ride to work
Agree
I live in St. Louis and currently looking into investing in Louisiana or other gulf coast areas hit by hurricanes.
I can't believe you got hate. I just wrote you on TikTok. And so then I found you here. I was the one who said I would love to hear more about this and did you buy in California. No I assume it's not.
chi m thanks 😄 i live in California but I bought in Texas!
in the UK, we have the word "Rentvestment". It is pretty new, but as millions have been priced out of buying where they live, the idea is similar to this video. Rent where you live, invest in property where you can afford. It is npt the best of worlds, but it is the modern reality. Yields are so poor in the UK, am actually considering buying US even with higher mortgage rates
Agreed. There will always he haters but they always tend to be inexperienced or uneducated.
I agree with your idea of out of state investing...hit me up anyone interested in Huntsville Alabama
Awesome! Is that where you invest?
@@SharonTseung i am a realtor here in Huntsville and Yes
@@panamalucy2155 hello I'm new to real estate investment and would like some information on Alabama. I have investments N.Y, but would love to invest out state thanks
How is the multi-family market in Huntsville?
WATCH NEXT: How to Find OUT-OF-STATE RENTAL PROPERTIES to Buy th-cam.com/video/xR1Nc-wEDLs/w-d-xo.html
I agree, I just posted a video about my start in out of state investing. It definitely is the way to go when you live in a place like LA where I do
Yo are d best
🥺❤️
You still have to be careful with out of state investments. A lot of people in those other states are living on minimum wage and are duel earners, and cannot afford higher rents other than what they are paying right now. It might work in a place where there are higher paying jobs in those areas, but it is kind of tricky. You also have to consider the costs of traveling to those areas as well or pay a management company or both. Put it all together and these are all costs that have to be taken into account.
I agree with buying out of state. However, you can also house hack your bay area home with all your friends. If willing to move further away from the city.
Where did you buy out of state investments?
I agree with u
I have been scammed many times by fake hackers not until my friends told me about this legit man called Hackerzhiyong on telegram I got paid daily through his best bitcoin software 🥰
AYYYY! Boston... I live there T^T
How did you pick what states you wanted to purchase property in?
So what loops do you have to go through to actually use a out-of-state home for an investment and income? What things do you have to do?
I didn’t get it - your main reason to invest out of state is because you can’t afford California ? Is that it ?
I love you
Enrique Oseguera ❤️
No need to buy out of state when you live in TX 🥰 lol 😆
Yessss! :D
I have been making losses trying to make profit trading. I thought trading demo account is just like trading the real market... can anyone help me out or at least advise me on what to do?
Pray for world peace. Then war
will end soon. Start investing now
assets. Then more & more, bigger
& bigger properties. After 15 to
20 yrs, you'll be a multi-millionaire
by that time.
Bay Area California.. lol. Why not disclose your city? I’m guessing Fremont.
Get rid of the drunk cameraman.
How come you $#itty real estate investors dont live in the same neighborhood that you make money "investing" in? Hmmm. .