Purchasing Out of State

[Alexander Coventry]

Hello BiggerPockets! I’m new here, and to Real Estate Investing! I’ve spent the last year (roughly) learning from reading BP forums, and from relationships I’ve made with local REIs. I have a question for the whole forum: Would you purchase property out of state? I am very fortunate to live where I live. The downside, extremely high property values (many overvalued), and drastically high taxes. I have considered purchasing property in other states, including North Carolina, South Carolina, Florida, Connecticut , etc. I have reached out to several management companies who deal in some (or all) of those states. I don’t think there is necessarily a right or wrong answer to this question, just a personal preference. What do you all think?

[Jason Carter]

I've been investing out of state for over 10 years. My main tips are - make sure you find a great property manager, because it's all about management. And also start building relationships with local investors. 

Let me know if I can be of any help.