If you live in an area where housing costs are high, long-distance ownership might be worth considering. (Terry Wong for The Washington Post) When Arlington resident Jesse Shapiro wanted to diversify his investment portfolio with real estate, he recognized quickly that he didn’t want to buy a place in the Washington area. “Housing costs in this region are prohibitive, and I didn’t want to risk buying something that’s 10 times the median price of a home in other parts of the country,” Shapiro says. “At the same time, it can be difficult to invest long-distance if you don’t know enough about other real estate markets.” With the help of Roofstock, an online real estate investment platform, Shapiro and his wife purchased a single-family house in a suburb of Raleigh, N.C., in January. The decision to buy locally or long distance is one of many to make if you want to join the world of real estate investors. The first essential decision is to determine whether you want to buy and flip a property or invest for long-term appreciation and cash flow from rents. According to the National Association of Realtors’ 2017 Investment and Vacation Home Buyers Survey, investment home purchases… Read full this story
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