buying investment property out-of-state?
Im new to all this and am scared to ask professionals as they might try to sell me something or make money off my ignorance so here I am…
I currently own a house in CA with a modest mortgage payment and have been looking at the greater Dallas area for a decent tenant-occupied quadplex. Based on my debt/income, I can’t go to a bank for another loan so I will be needing a hard money loan.
My question is does this loan need to be in the state of where I’m looking to buy or can it be local to me?
Any advice (please only from people who have experience)?