Is eveyone here from TX,CA, or FL????

[BB]

What's the deal? I keep hearing so much about everyone (including most of the HMLs being from TX, CA,FL, or even AZ) I am just a girl from IL tryin to get my feet wet in this biz. I am also a Realtor so I do know that the markets in FL and AZ are INCREDIBLE, so I am assuming that is why all the lenders and all the investors are form those areas.  I would definitely like to do some flipping across states (particularly in FL) Does anyone have anything of interest to mention regarding going across state?

Thanks in advance!

[pixeltrade]

I am in ny and for what i know and believe it really does not matter what state your in or investing in. real estate works pretty much the same way in all the states except for a few legal issues.
How is the market in your area?
Wouldnt it be easier to focus on the market you know the best?

[SD Newbie]

BB,
I have heard that there is great opportunity in IL.  Once I close on this property in Detroit, I am looking in Chicago or Phoenix next...  Are you looking to strictly do wholesaling or are there other options you're looking at?

Florida is great right now... there is a boom starting there so if you can get in move quickly... flipping in other states may be a little difficult because those types of properties you may need to physically see.  If you were just looking for rentals that may be a different story...

Keep studying...

[EZmoney]

BB,

We do things in IL and WI. You should start out in your back yard--where you understand the market better. If you are buying the properties (versus Birddog). IL is a great market. Lots of people in Chicago area. Remember location, location, location. Know your location--less chance of getting hurt or wasting your time. I have bought over 130 properties in the WI and IL market in the past. Now, just dealing in the finance end. Make sure the properties make sense.  GOOD LUCK

Jeff

[niravmd]

i'm from CA but i'm doing my investment out of state.

[wricg]

FL, i have seen my own home skyrocket in appreciation over the last 2 years. My paticular area is just booming right now. I personally invest in areas outside of my home and really look at waterfront as the long term demand for this area. I invest with a large a group of diversified individuals and all seem to be out of state investing in FL, so take that with a grain of salt...

[hinestro]

Hi,

I moved to S. Florida a year ago but my family has been here for years. The RE market right now is absoluteky crazy in Fl. People camp out overnight just to get on reservation lists. I have a great realtor that you can work with in the Miami area. Now is the time to buy a pre-construction and flip the contract as a resale without every closing on the unit.  There is a boom so I have a concern about too much supply but I dont think it will an issue inthe immediate future unless interest rate skyrocket. Contact Steve McFerrson with the Campins Company (yes the company from the girl who was on the apprentice is anyone ever watched). I worked with him and he is great and knows the area.  I am trying to get some funding right now to work on another deal with him.   But always make sure to ask a lot of questions about the contract (terms & resale) if you decide to  do pre-construction.

[Las Vegas Real Estate]

I know its tough to getting into new construction living out of state. Usally the home builder wants to ward off investors. Here in Nv they even have the buyers sign a contract saying the will use the home as their primary res and will not sell it intill they have owned it for a year.  But that contract would never hold in court.

[cainvestor]

What are some pros and cons in comparing  FL versus other states like TX/AZ?

I am looking to buy maybe a townhouse/condo or small SFR in coastal areas for long term cashflow and appreciation.   I figure with if I pick a good location near beaches(a few miles), the value should be stable and increase over time.  

What will be some good areas to start investing?  Thanks