Re: Where to find income property?
It really depends on what you mean by 'income' property. Yes, it is relatively easy to rental and commercial properties that yield 4-8% in many markets all over the country. However, 4-8% yields don't get me too excited. I ONLY buy double-digit cap rate properties, and I own properties that produce up to 24% cap rates from the day I bought them. Of course, I'm not in California.
The problem is that in almost EVERY market, double digit cap rates are exceedingly rare. If you can't make at minimum 10% cap rate, find a different investment.
As to owning property out of state: Don't do it unless you know EXACTLY what you're doing. it may sound so easy to find a good property manager, but it's not. You would NEVER hire a management company to work your properties. Their prices will kill all your profits.
If you're hot on RE, i'd suggest you move. Otherwise, focuse on flipping houses or something where you don't have to worry about rents.
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