Investing from far away
7 Replies
Ed Schell from Basking Ridge, New Jersey
posted over 3 years agoHow hard is it to own multi family properties that are out of your state if you are new to investing and you have a full time job? What would I need to do?
Steve Perkins Investor from Denver, Colorado
replied over 3 years agoI think that depends on the approach you decide to take. What are your plans? Find, fix and flip/rent on your own? Use a partner? Turnkey? Each has difficulties and risks. Give us a little more information on what you want to do?
Steve Perkins
Arlan Potter Investor/Accountant/Builder from Meno, Oklahoma
replied over 3 years agoInvest close to home. Much easier to deal with.
Ed Schell from Basking Ridge, New Jersey
replied over 3 years agoI want to purchase a multi family around 60 units and rent it out on my own
Larry Fried Investor/RE Broker from Eugene, Oregon
replied over 3 years agoI would say very difficult to manage a 60 unit property on your own would be a full time job if you were close by. At a distance, I simply don't know how you would do it at all. You have to at least hire a property manager I would think.
Ed Schell from Basking Ridge, New Jersey
replied over 3 years agoWith management in place is it difficult?
Engelo Rumora Investor from Toledo, Ohio
replied over 3 years agoOriginally posted by @Ed Schell :
How hard is it to own multi family properties that are out of your state if you are new to investing and you have a full time job? What would I need to do?
Hi Ed,
Great question.
A while back I wrote a blog for Bigger Pockets about investing in Real Estate from afar.
Feel free to read it here -
http://www.biggerpockets.com/renewsblog/2014/07/26/sight-mind-real-estate-investing-afar/ I hope you find it useful. Thanks and have a great day.Ed Schell from Basking Ridge, New Jersey
replied over 3 years agoOk thanks
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