Posted by phil fernandez on April 27, 2000 at 09:10:23:
I like my investment properties to be in the city that I live in. Where I can keep better track of them and manage them hands on. Also by investing where you live, people know you and often refer both tenants and deals your way. Investing closeby you also can get the pulse of the market better.
Saying all that, for the right deal I would go maybe 20 to 30 minutes out. But that’s it.
A couple of years ago I bought a HUD for rehab that was an hour away. Didn’t go up to the house much to check the progress of the work and then when done got lazy and had a realtor sell it for me. More money out of my pocket.