Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 4 years ago on . Most recent reply

User Stats

8
Posts
1
Votes
Jared Godoy
1
Votes |
8
Posts

Rookie Question- buying out of state, where to find lenders?

Jared Godoy
Posted

Apologies for the very rookie question, I'm thinking of buying a property out of state, should I be looking for a mortgage lender here or in the area I'm looking to buy?

Does the answer vary depending on if I'm planning to make that my primary residence or if I decide to stay in my area and have the property be a long distance investment/rental?

Thanks in advance! 

(first time poster, apologies if this is the wrong forum)

Most Popular Reply

User Stats

741
Posts
424
Votes
Kathy Henley
  • Rental Property Investor
  • St. Louis, MO
424
Votes |
741
Posts
Kathy Henley
  • Rental Property Investor
  • St. Louis, MO
Replied

@Jared Godoy I started investing from out of state. After figuring out 'where' I gathered a team in that location. Locals know the market and area expectations. I absorbed their wisdom. The team included a local lender with gray hair because an experienced lender approves the loan the knowing local market trends and the path of development. Lender recommendations came from my agent (also a investor in real estate), potential property managers (who had their own investment properties) and other successful investors that lived in this out of state area. 

Loading replies...