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?

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.

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.

Ok thanks

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