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The Early Point

Friday, March 24, 2006

Armchair investing

Everytime I tell my friends or family that I bought property outside of my state, they are always flabergasted. They quiz me to no end. They are in shock that I can feel comfortable buying a property i've never seen, from people i've never met.

The truth is, I live in California, and California is darn expensive. I'm young, and just starting out on this real estate adventure. The last thing I want is to take on a $500,000 rental property that most likely won't break even for the next 10 years.

So what is my only choice? Investing elsewhere.

I mentioned in my previous posting that there are a number of states (or provinces if you're Canadian) that have affordable houses that are ripe for growth. As they are all located elsewhere, I never thought it was possible to capitalize on the opportunity. I was flat out wrong. There are so many agents out there just dying for this type of business. I think the optimal way to find one is to go through an association or investing club. For myself, I chose Marshall Reddick. Based on my limited experience, I would definitely recommend them as a good place to start for your own investing adventure.


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