Out of state investing

[Gemma Collins]

Hi!

Just getting started and would love to know more about the “how” of out of state investing.

Does anyone have a good stories they’d be willing to share here?

Thanks!

[Aaron W.]

@Gemma Collins Welcome to the community! 

We only invest out-of-state because the local area is not conducive to the type of investing we want. it has been a great experience, but has been full of learning opportunities. In fact, one of first times purchasing out-of-state, we ended up purchasing 2 quads and 2 side-by-side duplexes (12 units) in two different states. 

Building a great team is essential if you are considering going out-of-state.  It is important local as well, but your reliance on the team is much higher since you are not physically at the location. My most important team member is the property manager. Make sure you make the effort to find one you are comfortable working with and can completely trust. The PM can make or break the profitability of your investment based upon the way they manage.

Good luck!