Rental Property Investor · Zainesville Ohio · Member since 2018 · 23 posts · 9 votes
Just as the title reads. I’m about 45-60 miles from Columbus Ohio and think that is where I want to focus my investments. The drive doesn’t bother me much as I commute a lot already.
How far do you live from your rentals and what would make you buy farther from home?
Naperville, IL · Member since 2018 · 330 posts · 357 votes
8y
1-8 miles. Before we moved to Germany for a job assignment...but I'm not counting that. My stuff and my grown kids are still 1-8 miles from our properties.
Rental Property Investor · Syracuse, UT · Member since 2015 · 19 posts · 13 votes
8y
Almost an hour away and I HATE it. Next time my tenants move out I'm looking for a property manager! I'm trying to find my next property closer to home!
Rental Property Investor · Syracuse, UT · Member since 2015 · 19 posts · 13 votes
8y
By the way, when you live an hour away and are looking for new tenants, showings are a real pain! I may have used a local relative to help with showings before I learned they must have a real estate license under my state law if they're getting any compensation for doing property management!
I found that a Saturday open house works best to maximize my time for showings. Rentler (& affiliates) generates tons of leads for me as well as my local major classifieds site (KSL Homes in UT).
Real Estate Investor · Encinitas, CA · Member since 2016 · 3k+ posts · 3k+ votes
8y
They’re across the country and I only do my fly-out-and-visits around 1-2 times a year. But I also buy newer properties that are easier for me to trust my PM to manage. No big problems, no giant rehabs, etc. If I was undertaking those, my perspective might change regarding remote absentee ownership.
Rental Property Investor · New York, NY · Member since 2018 · 7 posts · 6 votes
8y
I received a house in Atlanta, GA as an inheritance. I live in NYC. I decided to rent it out with the help of an EXCELLENT property manager. Its been going well for 7 years now and I have no complaints.
Rental Property Investor · Oakland, CA · Member since 2016 · 341 posts · 643 votes
8y
Hey @Account Closed - I'm about 2,265 miles away from my latest property. A short 33 hour drive away from the couch I'm sitting on right now.
Why? I was first drawn to an out-of-state market due to the affordability of it compared to where I live (San Francisco Bay Area). I've found there's great opportunity in looking outside of your area...it definitely isn't always smooth...I went through a couple nightmares...but, things are stable right now *knock on wood*. So, it came down to affordability, acquisition to rent ratio, favorable landlord laws, cash-flowing properties.
Rental Property Investor · Oakland, CA · Member since 2014 · 730 posts · 1k+ votes
8y
Ive done the OOS thing before, but never had anyone I trusted.
Now I am 15 minutes away from all of my properties. It’s a nice feeling being able to check in whenever I want
Rental Property Investor · Brookhaven, MS · Member since 2017 · 186 posts · 108 votes
8y
With the exception of one, all of mine are in the same neighborhood as I am so I self manage. The one exception is 85 miles from me and I have a property manager for that. The numbers on that unit were too good to pass up. Initially I was against the idea of investing where I couldn't see them everyday. However the more things I read and podcast I listen to, I'm learning about setting up processes so I can be more hands off on my investments.
Handyman · Pittsburgh, PA · Member since 2018 · 5k+ posts · 13k+ votes
8y
15 miles away, moving to within 5 miles. C class SFR and small MF. Self-managing fixer. I have absolutely zero trust for any sort of property management. I can think of at least a thousand ways for a knowledgeable PM to rip me off and a hundred ways for a bad PM to pi$$ my money away. So I would be looking for someone bright, experienced, and honest as a PM to work with minimal oversight and overhead as they sell a wealthy man a luxury. In my experience, those people do not exist.
I live 570 and 750 miles from my rentals. I chose to buy long distance so I can live whereever I want and buy where it makes sense. Where I live is very expensive compared to where I buy rentals
All wooden signs, all underground powerlines. I love Cary. haha Tried to get a job at SASS. I don't live in Cary, but always loved it. But yes, it is expensive. haha
Investor · Indianapolis, IN · Member since 2013 · 80 posts · 64 votes
8y
10 minute drive. And from there they are a two minute walk from the others. Two are next door to each other. It all came together by happenstance and I'm glad it did.
Investor · Ogdensburg, WI · Member since 2016 · 273 posts · 351 votes
8y
15 minute radius from my front door. Just shy of 100 units. Self manage and maintain everything. I am with @Jim K. Just don't trust anyone for p.m. duties. However I have entertained training the right person to take on p.m. work. Just haven't found them yet.
I found that a Saturday open house works best to maximize my time for showings. Rentler (& affiliates) generates tons of leads for me as well as my local major classifieds site (KSL Homes in UT).
This is good advice even if you live next door. Through painful experience I have learned that the ones who want to see it and move in RIGHT AWAY should be avoided. With an open house no one can claim that they saw it first..hard to argue that with a two hour window. Plus my units almost always have several folks interested, seeing others at the open house has a mystical effect of making them want it more...
Investor · Trafalgar, IN · Member since 2016 · 95 posts · 58 votes
8y
Within 35 minutes...regardless of what anyone says, it’s impossible to know for SURE what is going on with your property if you can’t see it yourself....
I found that a Saturday open house works best to maximize my time for showings. Rentler (& affiliates) generates tons of leads for me as well as my local major classifieds site (KSL Homes in UT).
This is good advice even if you live next door. Through painful experience I have learned that the ones who want to see it and move in RIGHT AWAY should be avoided. With an open house no one can claim that they saw it first..hard to argue that with a two hour window. Plus my units almost always have several folks interested, seeing others at the open house has a mystical effect of making them want it more...