Owning real estate is rarely a simple process, especially if the property isn't in close proximity, so why are people purchasing out of state?
It's simple: ROI (Return on Investment)
The largest factor that pushes people ready to buy out of state is affordability in their own state. If you live in San Francisco or New York City, you're going to spend a whole lot more than you would if you decided to purchase in Texas.
It makes sense that someone enjoying the fast-paced city life of New York City wouldn't want to move to Texas, but if they do their research right, they'll find Texas, Louisiana, and Tennessee has some of the fastest growing suburbs in the United States. An investor would have a much higher chance at selling or leasing out a property faster in these three areas.
Between purchase prices, appreciation rates, mortgage expenses, taxes, housing regulations, rental market conditions, and the return on investment properties are much higher in these states.
