Curious about long-distance real estate investing

[Uddipto Bose]

Hi! I am interested in purchasing my first rental property. I am located in NJ, but home prices are quite expensive nearby, so I have started to look at cities around the US that have cheaper prices, high population growth, and real estate markets that are appreciating. Some examples are Fort Worth, TX, and Charlotte, NC. 

While these cities seem quite appealing, I am worried about purchasing a property far away that I cannot easily commute to. Do you think I should look at cities far away, especially for my first investment? Should I travel to these cities to look at houses in person, or would you recommend working fully with a PM or someone else to take care of this? What are some other pros and cons of long-distance investing?

I would love to hear your thoughts on this matter if you have prior experience with long-distance investing. Thank you!

[Jamie O'Connell]

If you dont have someone you trust in that town, I wouldn't give it a try. Spec for your first 5 - 10 properties. You will need someone you trust for collections, repairs, meeting contractors and such. You really do need a team.