Looking to invest out of state. What do I need to know about weather? Insurance coverage? etc.?

Question

Brief background: husband and I own our house and a triplex here in Orange County CA and 2 fourplexes in the Phoenix metro, looking to invest in other markets in the US.  We've both lived our entire lives in SoCal.

So, this is kind of an "I don't know what I don't know" issue, but I'm looking for info on what other investors learned about other markets when looking to invest.  Weather, landlord laws, economies, etc., can all vary dramatically across this country, but having only invested in CA and AZ, I don't know what might be "typical" in other regions that wouldn't occur to me here.  For example, we've never had to deal with pipes freezing in our properties (growing up, I never knew that happened!), but I have since become aware that this happens, so I know that's something we'd have to account for in some other regions.  But what else might I not know?  What weather/climate issues might be a major headache that I wouldn't know about? What major expenses might not be covered by insurance (like here - earthquakes aren't covered, you must add it)?

Maybe I'm just apprehensive about hurricanes/floods/tornadoes/etc. because I've never dealt with them before.

I guess the ultimate question is, being from the southwest, what might I not know about that I should research regarding other parts of the country?

Thanks!

Kimberly T. · Answer

Thanks Same, yes, we definitely plan to talk to local realtors, PMs, etc., before buying.  Want to get some locals' knowledge on those issues.  We're just trying to learn what the major things are in general that we wouldn't know about, having never lived in areas that freeze, or get snow, hurricanes, or tornadoes.

Sam B. · Answer

This will vary region to region.  Your best bet would be to connect with landlords in regions you're interested in and put together a takeoff of big ticket items.  A solid local realtor will be able to fill in some of the blanks too, some of these items  may vary neighbourhood to neighbourhood, even in the same region (flood zone vs none, good public drainage vs poor, etc).