Investing out of state

[Kevin Hoff]

Hi everyone,

I am new here and new to real estate investing. I live in the San Diego Area in California and won't be investing in real estate in California because it is too expensive. I would like to buy a rental investment property in the midwest, but don't know where to start because it is out of state. Any advice on how to start finding properties out-of-state would be great! 

Thanks!

[Ritch Bonisa]

@Kevin Hoff

Obviously you need to be able to vet your deal and perform due diligence.

That said, you need:

• Boots on the ground
• Someone that will look for properties that fit YOUR criteria.
• Have your financing in line to move quickly. The good deals don't last long. 
• If you're all cash or mainly cash. You can purchase off market. Traditional finance works OK for properties that are listed MLS/BLC.
• You need patience.  Learn the market so you have the ability to act quickly. Being uninformed and trying to make quick moves can cause major problems very quickly.  
• Then there are the questions of strategy.  Distressed property, rent ready, etc. what are you looking for.

Hope that helps.