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Old 10-24-2018, 04:36 PM
 
17,874 posts, read 15,947,840 times
Reputation: 11660

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Are there resources (free or for fee) to learn about RE ownership out of state, or even out of local municipality?

Or is it practically the same everywhere?

I am looking to buy away from NYC. Too expensive, just not worth it here.

I have ideas of where, but I want to gather all info first before settling on location.

Please help me



Is that basically what a RE agent is for? But I guess I must sign the exclusive with them.
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Old 10-24-2018, 08:49 PM
 
Location: Raleigh NC
25,116 posts, read 16,215,541 times
Reputation: 14408
real estate ownership is pretty uniform across the US. You have property rights to the dirt and appurtenances/fixed items on the property. It won't differ that much.

If you've got 4 different locales, find 4 different agents or go to their citydata forums, and ask the questions you have regarding the vagaries of their particular locale.
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Old 10-24-2018, 10:22 PM
 
17,874 posts, read 15,947,840 times
Reputation: 11660
Quote:
Originally Posted by BoBromhal View Post
real estate ownership is pretty uniform across the US. You have property rights to the dirt and appurtenances/fixed items on the property. It won't differ that much.

If you've got 4 different locales, find 4 different agents or go to their citydata forums, and ask the questions you have regarding the vagaries of their particular locale.
Thank you for responding. I did not think anyone would. I have never bought property before. I only received some RE as a gift.
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Old 10-25-2018, 07:56 AM
 
Location: Just south of Denver since 1989
11,828 posts, read 34,440,909 times
Reputation: 8981
There are nuances for sure. If you are going to be a non owner occupant then are you going to self manage or hire a property manager?

Read “The Millionaire Real Estate Investor” by Gary Keller.
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Old 10-25-2018, 07:49 PM
 
Location: MID ATLANTIC
8,674 posts, read 22,919,247 times
Reputation: 10517
Don't ask my why, but you are plnning to move, no? That's a bit different than buying an investment property. Finding a place to live is totally different. I once had a couple move to a very quaint town in WV. What was overlooked was the addiction problem. Their car was broken into their first night there. They had a home invasion the same week. They were so upset when they called me, wanting to rent with their brand new FHA loan. We told them we couldn't say yes, but we wlso said we would not report this. We felt really bad for them, it was a cute house, white picket fence. The crime rate never would have predicted these mishaps.

Things can happen that you cannot anticipate.
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Old 10-25-2018, 08:45 PM
 
17,874 posts, read 15,947,840 times
Reputation: 11660
Quote:
Originally Posted by 2bindenver View Post
There are nuances for sure. If you are going to be a non owner occupant then are you going to self manage or hire a property manager?

Read “The Millionaire Real Estate Investor” by Gary Keller.
I thinking self manage, and live there, or not, but certainly move to area.
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Old 10-25-2018, 08:46 PM
 
17,874 posts, read 15,947,840 times
Reputation: 11660
Quote:
Originally Posted by SmartMoney View Post
Don't ask my why, but you are plnning to move, no? That's a bit different than buying an investment property. Finding a place to live is totally different. I once had a couple move to a very quaint town in WV. What was overlooked was the addiction problem. Their car was broken into their first night there. They had a home invasion the same week. They were so upset when they called me, wanting to rent with their brand new FHA loan. We told them we couldn't say yes, but we wlso said we would not report this. We felt really bad for them, it was a cute house, white picket fence. The crime rate never would have predicted these mishaps.

Things can happen that you cannot anticipate.
Its for investment/business purposes. I dont mind living in it to, if an option.
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Old 10-26-2018, 07:08 AM
 
3,766 posts, read 4,104,726 times
Reputation: 7791
The best place to start your search is on your computer. You can get plenty of information on just about any place without leaving home. You can look at listings on www.realtor.com. Just type in the zip code or town/city and you will see what your budget can buy and get an idea of the prices. There are plenty of filters on the site for your search. As for information on places, use the encyclopedia or wikipedia, the library, or contact the local tourism/business development department of that municipality. They are usually funded with tax dollars and their mission is to attract tourists and residents to the area. Also, there are lots of books on investing in real estate you can find at your local library, but big city libraries have better collections of such books. Good luck.
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Old 10-26-2018, 07:38 AM
 
16,235 posts, read 25,217,748 times
Reputation: 27047
Quote:
Originally Posted by NJ Brazen_3133 View Post
Are there resources (free or for fee) to learn about RE ownership out of state, or even out of local municipality?

Or is it practically the same everywhere?

I am looking to buy away from NYC. Too expensive, just not worth it here.

I have ideas of where, but I want to gather all info first before settling on location.

Please help me



Is that basically what a RE agent is for? But I guess I must sign the exclusive with them.
I would point you to the main page of this forum.....City Data has tremendous stats and info about almost any city in U.S., and this breaks down to even neighborhoods.

Everything from crime stats to racial stats....income....anything. All helpful when you are looking to locate to unknown areas.... Amazing information.

You can also them come back to the forum and look for specific threads, or start one asking questions about an area...city, neighborhood....school....whatever.
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Old 10-26-2018, 11:02 PM
 
17,874 posts, read 15,947,840 times
Reputation: 11660
Also what about management of RE?

NYC has a lot of rules and regs that may not exist else where because the rent stabilization laws, and all the programs, and just a whole lot of red tape.
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