How to invest out of state?

Question

Hi BP Community,

I am new to the RE investing world and I am currently learning everything I can about potential investing strategies. Because I live in  an expensive market (Washington DC), I am considering investing out of state.

I’m originally from Macon GA which is a less expensive market. I am curious how others have found success in investing out of state when their local market is super ($$$) ?

Thanks for your help!

Craig Bass · Answer

@Taylor L Thank you for the advise. I will consider this as I move forward.

Coby B. · Answer

@Craig Bass

Welcome! I live in Salt Lake, where I couldn't afford my own house had I not bought 5 years ago, but I was determined to start investing somewhere, somehow.  I decided on the Macon/Warner Robins area a couple years, and now currently have 5 doors (SFRs) there. I've found through a little trial and error that as long as you have a really good team on your side in the area that it can work out well. I've never been there, but I've put a lot of trust and faith into good property managers. If you are interested in that area specifically, I can send you the contact info of who I use. Good luck!

Taylor L. · Answer

I've had success investing in syndications out of state, both as a General Partner and Limited Partner.

The scale of commercial real estate enables us to hire people to be boots on the ground and handle the day to day. I can't see investing out of state with any other strategy, to be honest.