Advice Needed: Buy and Hold Opp Out of State
Hi BP- Advice needed: I am reviewing 3 properties in another state for buy and hold. I do not know much about this area yet. A friend of mines parents have owned the properties since 1990. They are selling b/c her father passed away so I am trying to do as much research as I can and not put too much on her mom during this time. Can you all let me know:
1. What would you do to better learn the area, the rental market, the stability of the area, etc...to assess if buying property here a good idea...they are 7.5 hours away so want to do as much due diligence as I can before driving to see the homes and the area.
2. Also, I have never worked with a property management company, so what questions would you ask them???
1. What would you do to better learn the area, the rental market, the stability of the area, etc...to assess if buying property here a good idea...they are 7.5 hours away so want to do as much due diligence as I can before driving to see the homes and the area.
2. Also, I have never worked with a property management company, so what questions would you ask them???
Thank you so much for your help! I wish these were local but don't want to miss an opportunity even if 7 hours away! My local market not so good for finding good buy and holds right now...
Have a great day!!