$1.3 million in deals done in 2 years from out of state!

293 Replies

@Elenis Camargo Congratulations and thank you for sharing. This shows what is possible with work, learning and networking. I've made valuable connections on BP and as an out of state investor have connected with and learned from many others as well.

Thanks @Elenis Camargo , and congrats again.

I thought of doing out of state, but one of the cons was paying double taxes.

I.e CA state and federal + TX state tax

wondering how are you managing it and if you have any tips ?

@Elenis Camargo Thanks so much for this post! I'm a Real Estate Agent in the Nashville area and I'm just starting my investing journey to acquire several rentals over the next couple of years. You have provided great motivation! Much appreciated.

@Ron Singh Good question. Florida doesn't have state taxes so we do not pay double taxes right now. I believe Texas does not have state taxes either. There are only a few states with this perk. Worth looking into! Maybe posting on BP to get insight from other investors in those states.

@Elenis Camargo Hi. My wife & I are currently trying to get our first property in my area, Dallas, within the next few months.

But I am interested in doing some out-of-state investing in the future. What are some quick tips you followed to be able to invest out-of-state? It seems like finding properties, finding honest contractors and even monitoring the rehab would be difficult from a distance. What have you done to do this so effectively?

Maybe I did not read correctly but I think you have 3 doors of your own, and are now working to help others flip houses.  How are you going to retire off of 3 doors?  Or do you just want to work as a boots on the ground for remote flippers as a continual career.

Great post. Thanks for Sharing. I am just getting started in OOS investing. I am trying to settle in on a market and would love to hear more of your journey. I am currently looking at Oklahoma, Texas, and Florida. I am eager to take the plunge but need to speak with more folks that have already made the bold step. I will PM you and hope to hear more. Thanks.

@Michael P. Yes I own 3 and then 1 more with a partnership. I never said I was retiring from 3 doors. We are planning on getting more doors as well as having our own brokerage where we are finding properties for other investors and doing property management. To acquire more doors we will try doing some flips as well as saving cash from our cash flow and W-2 jobs. We also want to try some brrr deals. I’ll post updates on those :) Our goal right now is 100 doors but of course that takes time! 

Awesome! Love the success stories, and the fact you did it all out of state. I live in IL and our property taxes are very high, so a lot of investors are looking at surrounding states to invest in. I am a broker that specializes in self storage, but have been helping friends / clients also underwrite other asset classes. There are a lot of great deals out there if people know what you are looking for. The power of networking is an amazing thing, thanks again for sharing!!

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