Buying Out of State Multifamily Property
Hello all,
I'm new to real estate investing and I've been doing a fair amount of research related to investing in multifamily rental properties.
Unfortunately around my area the properties don't meet my price range or cash flow calculations. I've found quite a few areas out of state though that seem to pass the initial review.
Buying out of state obviously has some drawbacks, mainly not being close and more importantly finding a "team" to help you.
For anyone who has made this work, how do you go about the process of making sure a property is worthy to buy when it's far away?
Mainly I'm curious if you have to be present for the entire process, or you can hire people remotely to help you even before you see the property. I'm thinking things such as an inspection on the property and maybe a checklists of things that need to be repaired or updated.
Can a property management company to help you build a team even before you buy?
Thanks for your time and consideration!