I recently began purchasing
OOS properties in higher cash flow areas professionally managed by a local team.
Want to get into Real Estate investing in New York and
OOS properties
Not exact matches
So, if you put a
property under contract and assign the contract to another investor or an
OO, that's wholesaling.
The
property is currently in the 15 day first look for
OO and I will be writing with the intention of owner occupying.
My
properties will be
OOS since I live in Denver and the market to just too hot here plus AirBNB is mostly illegal here.
I have a basic understanding of how to evaluate
properties and how to calculate operational costs, and the risk of investing
OOS, etc..
Do not attempt
OO status as it is loan fraud if you are not occupying the
property.
That way when searching for
property OOS I would have a better idea what the nieghborhood is.