Buying Out of State
Hi All,
My colleagues and I are planning our first real estate endeavor on a rental property. We are in California, so we are set on purchasing out of state. From those of your that have invested out of state, what is the general process you go through to make a safe, sensible, and solid purchase. What are your most efficient strategies for exploring a market once your are set on a location? What resources do you use to help your process? How many times do you visit an out of state city before you invest? What should be the main things one looks for when visiting? Do you have a general checklist to feel confident that you've performed your due diligence in an area that you are unfamiliar with?
I think we are a bit nervous making our first purchase out of state, but we feel California isn't the the most lucrative state to invest in with our resources. Is there any advice you can give? Thank you!