Investing from far away

7 Replies

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?

I 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

    Invest close to home. Much easier to deal with.

    I want to purchase a multi family around 60 units and rent it out on my own

    @Ed Schell  

    I 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.

    Larry Fried, Real Estate Agent in OR (#201211636)

    With management in place is it difficult?

    Originally 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.

    Free eBook from BiggerPockets!

    Ultimate Beginner's Guide Book Cover

    Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

    • Actionable advice for getting started,
    • Discover the 10 Most Lucrative Real Estate Niches,
    • Learn how to get started with or without money,
    • Explore Real-Life Strategies for Building Wealth,
    • And a LOT more.

    Lock We hate spam just as much as you

    Join the Largest Real Estate Investing Community

    Basic membership is free, forever.