Riverside, CA · Member since 2017 · 28 posts · 8 votes
Hi Everyone, I need recommendations on property management companies in Tucson, AZ of 10 units and up. I did the whole google thing and after reading a bunch of bad reviews, I figured I should reach out to the BP Family!
Rental Property Investor · Cleveland, TN · Member since 2015 · 176 posts · 58 votes
9y
Be sure you understand the challenges of out of state investment properties. After knowing that information and you are still good with it, good luck. It certainly is doable, just a few extra challenges. Finding trustworthy property managers and vendors is critical.
I am interested in knowing this too. Are you investing out of state? How do you goes about that? Do you fly out to see the property?
I am entertaining the idea of invest investing out of state. Any suggestions?
Hi Bao, yes I have been looking out of State. Pricing outside of CA is cut in half!
So when I'm searching and find a property I'm interested in, I will reach out to the broker and ask for the financials and start analyzing the property from the expenses to what current rent is in the market, crime, etc...and see if it will cashflow on what I need to make it worth wild. If it is a good property, I will then lock up the property and set a time to go see it. I have been only looking in near by States that are 5-7 hours away. So I will just drive, I have been searching for 3-5 months taking my time. Finally put in a offer, just did the property inspection Monday, property is in escrow.
Suggestions?
Not sure how much experience you have or your background. I'm new at real estate investing. My background is starting 2 different businesses from the ground up into 25-250 employees and have done different types of construction for the past 18 yrs.
So I have been educating myself on real estate for the last 5-6 months. First started reading some books, listening to Pod Stations from BP and Lifestyles Unlimited. I even took a on-line course from Unlimited which was worth it. I knew that I wanted to get into Multi-Family units and I wanted to hold my properties.
Basically educate as much as possible and figure out which path you want to take. Either single family or multi-family. Once you figure that out, put a business plan together on how execute your strategy.