Buying First Property Remote / Long Distance

[Matt Wujek]

Hi Everyone,

I'm just starting out and looking at small MFH properties but will be investing in the Midwest where I grew up, though I live in California. I'll be financing, but investment capital is not an issue. I grew up in the suburbs of Chicago and would ideally like to invest in IL since my family is still there and can serve as a home base for whenever I need to be in the area, but with IL property taxes being as high as they are I'm also scoping other markets in nearby states.

Does anyone have any general advice for buying / investing long distance? Should I really just be leaning on a local real estate agent to help me with the local markets? It might be hard for me to get to a property quickly enough to see it when making offers - is this an issue, should I try to enlist the help of a family member who could go look for me?

Still learning the ropes here so mostly looking for any general pointers on the challenges investing in a different market than where you physically are comes with its own challenges. Thanks!

[Drew Sygit]

@Matt Wujek please don't be naive and think everyone here is going to help you for free.

Many have ulterior motives to chat with you to pitch you on their services.

We're always looking for clients here on BP, but are pretty transparent about it. Others play hide & seek games with their intentions.

If you're interested in the Detroit market, DM us.