Windsor, CT · Member since 2016 · 20 posts · 0 votes
My area is too expensive to get started in. City and suburbs both. The rural areas don't have much rental or sales action going on. This is my biggest hurdle. I just don't know where to look and thats why I havent gotten started. My area puts me at a disadvantage. For people who buy outside their immediate area, how do you find deals? Where do you look and what do you look for?
People aren't going to like what I'm about to tell you, but the truth is with technology, buying out of state is not nearly as difficult as you think.
My last 12 deals have all come out of state. And i'm closing more every month. Almost all of these are houses I've never even seen.
The trick is finding a team of people you can trust, using layers of protection and advice, and making sure everyone else makes money so they are happy and want to take care of you.
If you think about it, unless you're a super handy guy or insist on managing your own properties, you wouldn't need to go directly to your own property even if it was right down the street. You're going to contract that work out anyway. The house being in another state makes a minimal impact on your job as the owner.
Feel free to message me with any questions you may have. Investing in different areas is not nearly as hard as some make it sound.
I'm a newbie still when it comes to real estate but if I was looking to buy in an area other than where I lived it would probably be a rental friendly condo near a popular tourist destination. I would then look for a reputable property management company or I know some condo complexes even offer to help with renting your place out and cleaning up after guests leave. Come to think of it I stayed in a place like this on my honeymoon in the smoky mountains. I just walked into the office there and asked if they had anything available and they rented me the place place for $200 a night for a couple nights. It looked like a really nice private hotel from the road but turns out it was actually someones condo they were letting the place rent out. I bet they made a killing there.
Also I just thought of if you have family in other areas / states that you visit often you could look there or have them be on the look out for any good deals.
People aren't going to like what I'm about to tell you, but the truth is with technology, buying out of state is not nearly as difficult as you think.
My last 12 deals have all come out of state. And i'm closing more every month. Almost all of these are houses I've never even seen.
The trick is finding a team of people you can trust, using layers of protection and advice, and making sure everyone else makes money so they are happy and want to take care of you.
If you think about it, unless you're a super handy guy or insist on managing your own properties, you wouldn't need to go directly to your own property even if it was right down the street. You're going to contract that work out anyway. The house being in another state makes a minimal impact on your job as the owner.
Feel free to message me with any questions you may have. Investing in different areas is not nearly as hard as some make it sound.