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Posted almost 8 years ago

Out of State Investing

How I Live In California While Investing in Texas

How “you” can live in one/invest in another state!

Are you experiencing difficulty finding values in the state where you live or you just prefer another market for its potential?

Great news! Choose any market regardless of your location. What is the key? A highly effective, boots-on-the ground team. I am fortunate to have an outstanding property management team in Texas. They collect the rent, arrange needed repairs, manage make ready for new tenants, auto deposit rental payments to my bank account, send year end owner statements with complete financials and handle emergencies with urgency and consideration for my tenants and for me as the out of state property owner.

A great real-life example involved two of my properties impacted by a tornado several years ago. The property manager first secured the roofs that suffered considerable damage and provided temporary coverings that allowed the tenants to continue living in the homes rather than be displaced. My property manager then contacted my insurance agent and a reliable roofer who immediately worked as a team to perform full roof replacements. All of this was coordinated by my property management team. What was my role? I signed the paperwork required by the insurance company and the roofer, approving the work to be done. This was handled my email. The roofer and insurance company agreed on the cost to the penny, all covered by the insurance policy. My tenants are now living under a new roof!

Other boots-on-the-ground team members are also valuable for successful out of state investing. Many people have helped me successfully invest in Texas while living in California. My mission is to pay it forward by sharing information with others who may not know where to turn and need to better understand the how to’s.


Comments (2)

  1. Great story Kathy. If you don't mind me asking. How did you start in Texas? I'm looking to do the same. 


  2. Great success story for out of state investors, thanks for sharing!