In the Metro Atlanta market when out of state investors failed, I keep seeing the same pattern. They purchase what looks like a solid deal on paper that is good price, decent rent in a decent neighborhood but then things start to unravel. The tenant stops paying, maintenance issues go unaddressed, expenses begin to creep up and cash flow disappears. Before long, they are frustrated, stressed and questioning the entire investment. The reality is, it is usually not the property that failed but the lack of a strong local system. The investors I see succeed long-term all have a few things dialed in: • A reliable local team (an experienced real estate agent and a contractor or a property manager) • Conservative underwriting (not just pro forma numbers) • Strong tenant screening upfront (this is huge) • Ongoing oversight, not just “set it and forget it” Out-of-state investing absolutely works but only if the infrastructure is in place. Curious to hear from others: 👉 If you have invested out of state, what has been your biggest challenge? 👉 What systems or people made the biggest difference for you? (and if you are currently investing in the Southeast, happy to share what we are seeing on the ground.)

Love this, Janice — you nailed the pattern I see over and over with out‑of‑state owners in Atlanta. The common thread with the ones who struggle is exactly what you described: they bought a “good deal on paper” but didn’t have a local framework for screening, oversight, and expense control. On our side, the biggest levers have been: • Tight resident screening and clear criteria (especially income verification and rental history) • • Realistic, line‑item expense assumptions instead of rosy pro formas • • Consistent drive‑bys/inspections so issues don’t snowball • • Being very upfront with investors about what Atlanta submarkets actually operate like vs what a spreadsheet suggests Out‑of‑state absolutely works here when investors treat “team + systems” as part of the investment, not an afterthought.

Most OOS investors fail, you just don't read about their stories, because they keep that quiet. The reality is anything you do remote is harder than if you are there. Overall you have an extra 20% or so cost burden compared to a local investor. The worst combination is rough neighborhood + extensive repairs (BRRRR). The more steps you need to complete until you get that first rent check, the more opportunities for stuff to go wrong. And it's not one big thing that kills you, it's death by 1000 needle pricks. To Jay's point, returns are risk adjusted. But cash flow is always earned, so you'll have to work more for more cash flow because you'll have more issues. Local investors have a better instinct for buying quality than someone looking at a 20 cell spreadsheet. And don't think more cells make it better. So, here is my suggestion to any aspiring OOS investor: close the gap as much as you can. Pick a market you already know, where you used to live or where you have family. Easy to get to and plan on spending time there to learn. Closing the gap makes a bigger difference than finding "the best market". Buy a single family and stay away from small MF - they are harder to manage. Buy above median price, that keeps you out of the rough areas. In Milwaukee the median sales price is 275k, we buy over 300k. We have seen now a decade of 6-7% appreciation, so good stuff is not cheap anymore. But you can't go cheap. Buy a desirable house in good condition, don't buy a weird property just because you can get a "deal". And don't cheap out on PM, you will regret it. Politically, we start to see push back against OOS investors. When you look at the worst properties with garbage in the yard and gutters hanging down, they are almost always owned OOS. Out of sight - out of mind. The PM gets verbally beat up by the OOS owner every time they suggest an improvement, so they stop suggesting. I had a guy from TX reaching out for help; he wanted to sell his 4 MKE properties, 1 in eviction, 2 of them vacant and not rented for like 6 months, which is strange because we fill vacancies in a week. He said they are in great shape and the rent looked reasonable to me, so I drove by. The first property was on a corner lot, next to a boarded up house, trash in the yard, overgrown vegetation. Who wants to live here?? The inside was worse: beat up, in disrepair, extremely dirty - I felt like I needed a shower afterwards. I gave him a video call and showed him, he was totally shocked. We cleaned them up one by one and sold them. He is glad Milwaukee is over for him, but that's really not the city's fault.

I haven’t been keeping accurate records or anything but I’d say that about 9 out of 10 out of state investors that I’ve known personally have failed. On the other hand, literally all of the out of state investors who I’ve helped invest from out of state here have done really, really well. So my take-away is obviously that out of state investors will fail unless they use me as their agent ;). Kinda half-joking of course… I do think having a competent agent who cares is a critical piece of the puzzle. Another big one is investing in a good location which I am lucky to live in one of those too. Here are the other things that all out of state investors I know who have been successful have going for them: 1. They are well capitalized. Owning property can be expensive at times and if you can’t weather the storm when big ticket capex items hit unexpectedly or the rent stops coming in for a few months due to tenant issues, you’re cooked. Adequate cash reserves are a must. This is true for all rental property but especially owning remotely because you will be paying others for everything. At least if you’re local you can do things yourself and save money if needed. Owning remotely, you’re stuck writing checks from afar or spending money to get there personally. 2. They have some personal connection to the place they’re investing. Either grew up there, went to college there, lived there for awhile, travel there often, have family there etc. It’s really hard to know a market well enough to make a smart buy, on at least a street by street (or even better, house by house) basis without having spent time there. RE is also a relationship business and it’s more common to have good relationships with people in areas you’re familiar with (agents, PMs, vendors, trades, tenants, etc.). 3. They invest only in Class A or B properties. Higher quality properties are much easier to manage and much lower risk, making them much better suited for remote investors. 4. They have some background in real estate already in their home market. It’s a tough learning curve when you’re getting started and even harder when you can’t simply go to the property to assess situations and make decisions, press the flesh, get your hands dirty, be a good landlord not someone who is ignorant about what is happening at their property etc. I wouldn’t say that remote investing can’t work, just that it usually doesn’t work. Most out of state investors are clueless, chasing some spreadsheet magic and they buy based on hope and nothing more, mistakenly thinking a higher cap rate is going to mean higher returns, and forgetting that all rental property is priced for risk. Buying a Class A kiddy condo in a swanky college town for your responsible child to live in with housemates offsetting their living expenses while they attend school can be a great out of state investing move. Buying a Class D dump in a market experiencing terminal post-industrial decline just because the magic spreadsheet or fancy new AI underwriting tool says it will cash flow $250/month, not so much. Typically operating expenses, unexpected capex/ repairs/ maintenance issues, and tenant-related problems/ vacancy loss eat up any potential profits. After losing money for a few years out of state investors usually end up selling at a loss. There are also scammers who prey on out of state investors and I have known several people who have fallen into that trap. One friend thought they had bought 3 turnkey properties that were operating well but found out later they had bought 3 derelict properties with squatters in them (Morris Invest). Another doctor friend couldn’t figure out why the vacancy rate of their Reno apartment building was always around 50% despite being in a desirable location and good condition. They let this go for years then finally looked into it personally and found out that the property was actually full, but the PM had just been pocketing half the rent for years. Increased distance equals increased risk.

@Janice Carter & @Ken M. This is almost too easy😛 Although, it appears neither of you have ever taken the time to read my copy & paste advice about screening PMCs😌 Maybe now would be a good time? ---------------------------------------------------------------------------------- We’re a Property Management Company (PMC) in Metro Detroit ONLY, with 25+ years of experience, and we’ve seen owners make the same mistakes, over & over again when looking to hire a PMC – which drives us nuts!. In our experience, the #1 mistake owners make is ASSUMING all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY. So, owners mistakenly think price is the only differentiator – and look for a PMC like they’d shop for groceries☹ We encourage you to learn from the mistakes of others by reading posts here on BiggerPockets from owners that picked a PMC solely by price and regretted it. We recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible. Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc. Even if someone gives you a referral, do NOT make the mistake of assuming that just because a PMC met their expectations, they’ll meet your expectations. We all have our own expectations and what works for someone else, may not work for you. If you’re new to all of this, it's often a case of not doing enough research, as you don't know what you don't know! So, ask more questions! EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean? What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.? You’d be shocked by how little actual screening many PMC’s do! This also leads owners to ASSUME simpler is better when it comes to management contracts. The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it! A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings. Why do you think purchase contracts are so long and have such small print? We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover. EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises! P.S. If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general. Take ownership of your mistake and learn to do the proper due diligence recommended above😊 Here’s some articles we’ve contributed to BiggerPockets about screening a PMC BETTER than you would a tenant! 20 Questions to Ask When Vetting a Property Management Company: Processes 13 Questions to Ask to a PMC: Communication and Documentation 24 Questions to Ask When Evaluating a Property Management Contract

Rebecca, you see it probably even more than I do! It is a special combination or ignorance and greed: a lack of understanding paired with an absolute believe in the idea that you can force an extra $100 in cashflow if you just try hard enough. Encouraged from an online community, who has their own knowledge more from the internet than their own experience. And in the process the streets and neighborhoods suffer the collateral damage: property values drop and neighbors reduce their own upkeep, because what's the point. What frustrates me the most is that they are completely impervious to advice. It's almost like they take any suggestions for a better approach as proof of gate keeping to the "secrets of real estate investing". I have literally been told I don't understand investing and they will look for someone who is a "better fit", meaning someone who will sell them the snake oil they are looking for..

Janice nailed this. The pattern is predictable: an investor buys a property that "looks good on paper" (cap rate, rent-to-value ratio, etc), then gets blindsided by operational reality. And it's almost always because they didn't build the infrastructure first. What I've seen work: the investors who succeed out-of-state actually do this in reverse order. They DON'T chase the "best deal." They first move capital into a market where they can build a real team -- meaning they spend time there, meet contractors, interview agents, and develop judgment about what's actually possible. Then they invest. They treat the team as a prerequisite, not an afterthought. The underwriting piece matters too. Janice mentioned being conservative vs pro forma numbers -- that's huge. When you're out-of-state, assumption errors compound. An optimistic rent number, an underestimated vacancy rate, a contractor who overcommits -- any one of those kills the deal. But when you're local, you catch these things. When you're 1,000 miles away, you don't. Also: set it and forget it is a death sentence for out-of-state portfolios. Even if you hire a property manager, you need eyes on the property monthly at minimum. Walk through it yourself. Talk to the tenant. Drive the neighborhood. If you can't commit to that level of attention, don't buy out of state. For people reading this who want to go out-of-state: spend 3-6 months building your local team first. Do one or two smaller deals to prove the system works. Then scale. What's the biggest difference between successful and failed out-of-state investments you're seeing right now in Atlanta?

Janice — solid framework. I'll add the view from the other side of this equation. I'm in Temple, TX and work with out-of-state buy-and-hold investors regularly. I've done 100+ transactions here personally (flips, BRRRR, mid-term rentals), so I see where the breakdowns happen from the boots-on-the-ground side. The #1 failure pattern I see isn't bad markets or bad properties — it's investors who pick a market based on a spreadsheet and then try to assemble a team after they're under contract. That's backwards. The team IS the investment. I'd go further than "find a good PM" — find an agent or operator who actually invests in the market themselves. Someone running their own rental portfolio underwrites differently than someone collecting a commission check. One concrete example: in 76502 (Temple), property tax rates run around 2.2%. Out-of-state investors routinely underwrite at 1.5% because that's what they're used to in other states. On a $220K property, that's a $1,540/year miss — enough to flip a cash-flowing deal negative. Texas has no state income tax, but property taxes will eat you alive if you estimate instead of pulling actual CAD data. The investors I see succeed remotely do three things: they visit the market at least once before buying, they verify numbers against real data (not Zillow estimates), and they budget for PM from day one rather than planning to self-manage from 1,200 miles away. Happy to share more data on the Central TX market if anyone's evaluating it

What kills me is that they are failing...we see their code violations, the dilapidated buildings, the delinquent taxes and foreclosures...and then they are on BP or other social media pitching their false success and trying to sell coaching or find partners or claiming they will hook you up with 'their teams'.

Why Most Out-of-State Investors Fail… (and What Actually Works Instead)

General Real Estate Investing

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Why Most Out-of-State Investors Fail… (and What Actually Works Instead)

Janice Carter

Real Estate Broker · Atlanta · Member since 2024 · 1k+ posts · 608 votes

In the Metro Atlanta market when out of state investors failed, I keep seeing the same pattern. They purchase what looks like a solid deal on paper that is good price, decent rent in a decent neighborhood but then things start to unravel. The tenant stops paying, maintenance issues go unaddressed, expenses begin to creep up and cash flow disappears. Before long, they are frustrated, stressed and questioning the entire investment. The reality is, it is usually not the property that failed but the lack of a strong local system.

The investors I see succeed long-term all have a few things dialed in:

A reliable local team (an experienced real estate agent and a contractor or a property manager)
Conservative underwriting (not just pro forma numbers)
Strong tenant screening upfront (this is huge)
Ongoing oversight, not just “set it and forget it”

Out-of-state investing absolutely works but only if the infrastructure is in place.

Curious to hear from others:

👉 If you have invested out of state, what has been your biggest challenge?
👉 What systems or people made the biggest difference for you?

(and if you are currently investing in the Southeast, happy to share what we are seeing on the ground.)

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Mike Grinnell
Property Manager · Atlanta, GA · Member since 2025 · 44 posts · 22 votes
7mo
Love this, Janice — you nailed the pattern I see over and over with out‑of‑state owners in Atlanta.

The common thread with the ones who struggle is exactly what you described: they bought a “good deal on paper” but didn’t have a local framework for screening, oversight, and expense control.

On our side, the biggest levers have been:
- Tight resident screening and clear criteria (especially income verification and rental history)
- Realistic, line‑item expense assumptions instead of rosy pro formas
- Consistent drive‑bys/inspections so issues don’t snowball
- Being very upfront with investors about what Atlanta submarkets actually operate like vs what a spreadsheet suggests
Out‑of‑state absolutely works here when investors treat “team + systems” as part of the investment, not an afterthought.
4 Reply
Janice Carter
OP
Real Estate Broker · Atlanta · Member since 2024 · 1k+ posts · 608 votes
7mo
Mike, I appreciate that and completely agree with your approach. Those exact levers you mentioned are what separate the deals that perform from the ones that fall apart. Especially being upfront about how submarkets actually operate vs. what the numbers suggest. That is where a lot of investors get caught off guard.
0 Reply
- Ken M.
  Investor · Get yourself trained before doing something inadvisable. · Member since 2024 · 3k+ posts · 1k+ votes
  7mo
  Quote from @Janice Carter:
  
  @Mike Grinnell:
  
  Mike, I appreciate that and completely agree with your approach. Those exact levers you mentioned are what separate the deals that perform from the ones that fall apart. Especially being upfront about how submarkets actually operate vs. what the numbers suggest. That is where a lot of investors get caught off guard.
  Are ALL Property Managers equal?
  
  Seems from various posts, there are a lot landlords disappointed with their Property Managers.
  
  What would you suggest to sort out the good Property Managers from The Duds, from 2,000 miles away?
  
  Full Disclosure: I always advocate people buy properties within driving distance, so they can be on top of any issues with what is probably their most expensive investment.
  4 Reply
Bo SmithPro Member
Hinton, WV · Member since 2026 · 1k+ posts · 375 votes
7mo
You nailed the real issue here - it's never the property, it's always the system. I've done deals in 5 states and the difference between the winners and the underwater investors is exactly what you described.
The local team is everything. I've had properties that looked mediocre on paper absolutely crush it because I had a property manager who actually gave a damn, plus a contractor who wasn't just the cheapest bid. And yeah - tenant screening is where most out-of-state guys get destroyed. When you're not sitting in the same market, you're relying on someone else to do that legwork and a lot of PMs just don't filter hard enough upfront.
One thing I'd add: conservative underwriting on the rent side especially. A lot of out-of-staters will hit the MLS max rent and assume they can get it day one. Reality is rougher - vacancy, turnover costs, the fact that your property isn't in the best part of the neighborhood. I always model 10% lower than what comps show and still keep 25% reserves minimum. Have you found that the successful folks in your market tend to overfund that reserve buffer, or do most stick with traditional models?
1 Reply
Janice Carter
OP
Real Estate Broker · Atlanta · Member since 2024 · 1k+ posts · 608 votes
7mo
@Bo Smith Exactly, couldn’t agree more. That point about conservative rent assumptions is huge, especially for out-of-state investors who rely too heavily on “top of market” numbers. From what I have seen, the investors who consistently perform well tend to overfund reserves. They would rather be pleasantly surprised than caught off guard. The ones who stick to tighter margins usually feel the pressure the fastest when something goes wrong.

0 Reply
Janice Carter
OP
Real Estate Broker · Atlanta · Member since 2024 · 1k+ posts · 608 votes
7mo
@Ken M. Definitely not, property managers are not created equal. That is why it is critical to build your team before you buy and not after. From a distance, I would suggest vetting PMs through reviews, investor referrals, clear screening processes, communication standards and how they handle maintenance and evictions. Those details will quickly separate the pros from the duds. The bottom line is that while it is ideal to invest locally, sometimes the best deals are out of state.
0 Reply
- Ken M.
  Investor · Get yourself trained before doing something inadvisable. · Member since 2024 · 3k+ posts · 1k+ votes
  7mo
  Quote from @Janice Carter:
  
  @Ken M. Definitely not, property managers are not created equal. That is why it is critical to build your team before you buy and not after. From a distance, I would suggest vetting PMs through reviews, investor referrals, clear screening processes, communication standards and how they handle maintenance and evictions. Those details will quickly separate the pros from the duds. The bottom line is that while it is ideal to invest locally, sometimes the best deals are out of state.
  Thanks for the reply, but none of that explains HOW to vet, what to ask, what to know.
  
  The whole point is to know HOW, asking for a friend. heh heh
  0 Reply
Janice Carter
OP
Real Estate Broker · Atlanta · Member since 2024 · 1k+ posts · 608 votes
7mo
@Ken M. Fair point, we are all here to learn. Please enlighten us. How would you vet a property manager as an out of state investor?
1 Reply
- Ken M.
  Investor · Get yourself trained before doing something inadvisable. · Member since 2024 · 3k+ posts · 1k+ votes
  7mo
  Quote from @Janice Carter:
  
  @Ken M. Fair point, we are all here to learn. Please enlighten us. How would you vet a property manager as an out of state investor?
  I don't have that answer. You're the one that made the comment. I was just curious if you had solved the issues, but apparently it's issues you face as well. Your's just seemed like a nice throw away answer with no content.
  
  I don't use property managers and I especially would be very reluctant to use one if the property was out of state.
  
  I think in the eagerness to sell properties, we oversell how complex being a landlord really is. Some people just are not suited to it.
  
  I buy broken down landlords properties, at a discount. It's a great market.
  
  I choose to buy my properties using Subject To & with Wraps and then sell on Lease Option. (but one can't just do things that way willy, nilly. It requires training or you can get sued) The specially designed Option agreements we use give the buyer the responsibility of self managing.
  
  No property manager needed.
  0 Reply
Drew SygitBusiness Member
Property Manager · Royal Oak, MI · Member since 2012 · 13k+ posts · 9k+ votes
7mo
@Janice Carter & @Ken M.
This is almost too easy😛
Although, it appears neither of you have ever taken the time to read my copy & paste advice about screening PMCs😌
Maybe now would be a good time?
----------------------------------------------------------------------------------
We’re a Property Management Company (PMC) in Metro Detroit ONLY, with 25+ years of experience, and we’ve seen owners make the same mistakes, over & over again when looking to hire a PMC – which drives us nuts!.

In our experience, the #1 mistake owners make is ASSUMING all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY.

So, owners mistakenly think price is the only differentiator – and look for a PMC like they’d shop for groceries☹

We encourage you to learn from the mistakes of others by reading posts here on BiggerPockets from owners that picked a PMC solely by price and regretted it.

We recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.

Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.

Even if someone gives you a referral, do NOT make the mistake of assuming that just because a PMC met their expectations, they’ll meet your expectations. We all have our own expectations and what works for someone else, may not work for you.

If you’re new to all of this, it's often a case of not doing enough research, as you don't know what you don't know!

So, ask more questions!

EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean? What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.? You’d be shocked by how little actual screening many PMC’s do!

This also leads owners to ASSUME simpler is better when it comes to management contracts.

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings. Why do you think purchase contracts are so long and have such small print?

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

P.S. If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general. Take ownership of your mistake and learn to do the proper due diligence recommended above😊

Here’s some articles we’ve contributed to BiggerPockets about screening a PMC BETTER than you would a tenant!

20 Questions to Ask When Vetting a Property Management Company: Processes

13 Questions to Ask to a PMC: Communication and Documentation

24 Questions to Ask When Evaluating a Property Management Contract
[email protected]248-209-6824
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3 Reply
- Ken M.
  Investor · Get yourself trained before doing something inadvisable. · Member since 2024 · 3k+ posts · 1k+ votes
  7mo
  Quote from @Drew Sygit:
  
  @Janice Carter & @Ken M.
  This is almost too easy😛
  Although, it appears neither of you have ever taken the time to read my copy & paste advice about screening PMCs😌
  Maybe now would be a good time?
  ----------------------------------------------------------------------------------
  We’re a Property Management Company (PMC) in Metro Detroit ONLY, with 25+ years of experience, and we’ve seen owners make the same mistakes, over & over again when looking to hire a PMC – which drives us nuts!.
  
  In our experience, the #1 mistake owners make is ASSUMING all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY.
  
  So, owners mistakenly think price is the only differentiator – and look for a PMC like they’d shop for groceries☹
  
  We encourage you to learn from the mistakes of others by reading posts here on BiggerPockets from owners that picked a PMC solely by price and regretted it.
  
  We recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.
  
  Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.
  
  Even if someone gives you a referral, do NOT make the mistake of assuming that just because a PMC met their expectations, they’ll meet your expectations. We all have our own expectations and what works for someone else, may not work for you.
  
  If you’re new to all of this, it's often a case of not doing enough research, as you don't know what you don't know!
  
  So, ask more questions!
  
  EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean? What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.? You’d be shocked by how little actual screening many PMC’s do!
  
  This also leads owners to ASSUME simpler is better when it comes to management contracts.
  
  The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!
  
  A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings. Why do you think purchase contracts are so long and have such small print?
  
  We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.
  
  EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!
  
  P.S. If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general. Take ownership of your mistake and learn to do the proper due diligence recommended above😊
  
  Here’s some articles we’ve contributed to BiggerPockets about screening a PMC BETTER than you would a tenant!
  
  20 Questions to Ask When Vetting a Property Management Company: Processes
  
  13 Questions to Ask to a PMC: Communication and Documentation
  
  24 Questions to Ask When Evaluating a Property Management Contract
  Yeah, TLDR.
  Nothing personal, but long posts like that don't get read, especially when they are repeatedly posted.
  It would work better as a download for those that are interested. Or make it into an eBook and sell it.
  The real issue I'm commenting on, is that people think they can buy a property while in California and invest in Michigan or Ohio or Texas or Georgia, get a good deal, have a property manager remotely manage it and still make money.
  I haven't seen or heard of that happening successfully over the long term.
  The forums are full of people dissatisfied with that arrangement.
  1 Reply
- Drew SygitBusiness Member
  Property Manager · Royal Oak, MI · Member since 2012 · 13k+ posts · 9k+ votes
  7mo
  Quote from @Ken M.:
  
  Quote from @Drew Sygit:
  
  @Janice Carter & @Ken M.
  This is almost too easy😛
  Although, it appears neither of you have ever taken the time to read my copy & paste advice about screening PMCs😌
  Maybe now would be a good time?
  ----------------------------------------------------------------------------------
  We’re a Property Management Company (PMC) in Metro Detroit ONLY, with 25+ years of experience, and we’ve seen owners make the same mistakes, over & over again when looking to hire a PMC – which drives us nuts!.
  
  In our experience, the #1 mistake owners make is ASSUMING all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY.
  
  So, owners mistakenly think price is the only differentiator – and look for a PMC like they’d shop for groceries☹
  
  We encourage you to learn from the mistakes of others by reading posts here on BiggerPockets from owners that picked a PMC solely by price and regretted it.
  
  We recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.
  
  Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.
  
  Even if someone gives you a referral, do NOT make the mistake of assuming that just because a PMC met their expectations, they’ll meet your expectations. We all have our own expectations and what works for someone else, may not work for you.
  
  If you’re new to all of this, it's often a case of not doing enough research, as you don't know what you don't know!
  
  So, ask more questions!
  
  EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean? What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.? You’d be shocked by how little actual screening many PMC’s do!
  
  This also leads owners to ASSUME simpler is better when it comes to management contracts.
  
  The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!
  
  A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings. Why do you think purchase contracts are so long and have such small print?
  
  We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.
  
  EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!
  
  P.S. If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general. Take ownership of your mistake and learn to do the proper due diligence recommended above😊
  
  Here’s some articles we’ve contributed to BiggerPockets about screening a PMC BETTER than you would a tenant!
  
  20 Questions to Ask When Vetting a Property Management Company: Processes
  
  13 Questions to Ask to a PMC: Communication and Documentation
  
  24 Questions to Ask When Evaluating a Property Management Contract
  Yeah, TLDR.
  Nothing personal, but long posts like that don't get read, especially when they are repeatedly posted.
  It would work better as a download for those that are interested. Or make it into an eBook and sell it.
  The real issue I'm commenting on, is that people think they can buy a property while in California and invest in Michigan or Ohio or Texas or Georgia, get a good deal, have a property manager remotely manage it and still make money.
  I haven't seen or heard of that happening successfully over the long term.
  The forums are full of people dissatisfied with that arrangement.
  
  Understood:)
  BTW: clients that actually listen to our advice do make money over the long-term🤑
  [email protected]248-209-6824
  Logical Property Management4.9462 Reviews
  Website View Page
  1 Reply
- Ken M.
  Investor · Get yourself trained before doing something inadvisable. · Member since 2024 · 3k+ posts · 1k+ votes
  7mo
  Quote from @Drew Sygit:
  
  Quote from @Ken M.:
  
  Quote from @Drew Sygit:
  
  @Janice Carter & @Ken M.
  This is almost too easy😛
  Although, it appears neither of you have ever taken the time to read my copy & paste advice about screening PMCs😌
  Maybe now would be a good time?
  ----------------------------------------------------------------------------------
  We’re a Property Management Company (PMC) in Metro Detroit ONLY, with 25+ years of experience, and we’ve seen owners make the same mistakes, over & over again when looking to hire a PMC – which drives us nuts!.
  
  In our experience, the #1 mistake owners make is ASSUMING all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY.
  
  So, owners mistakenly think price is the only differentiator – and look for a PMC like they’d shop for groceries☹
  
  We encourage you to learn from the mistakes of others by reading posts here on BiggerPockets from owners that picked a PMC solely by price and regretted it.
  
  We recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.
  
  Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.
  
  Even if someone gives you a referral, do NOT make the mistake of assuming that just because a PMC met their expectations, they’ll meet your expectations. We all have our own expectations and what works for someone else, may not work for you.
  
  If you’re new to all of this, it's often a case of not doing enough research, as you don't know what you don't know!
  
  So, ask more questions!
  
  EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean? What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.? You’d be shocked by how little actual screening many PMC’s do!
  
  This also leads owners to ASSUME simpler is better when it comes to management contracts.
  
  The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!
  
  A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings. Why do you think purchase contracts are so long and have such small print?
  
  We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.
  
  EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!
  
  P.S. If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general. Take ownership of your mistake and learn to do the proper due diligence recommended above😊
  
  Here’s some articles we’ve contributed to BiggerPockets about screening a PMC BETTER than you would a tenant!
  
  20 Questions to Ask When Vetting a Property Management Company: Processes
  
  13 Questions to Ask to a PMC: Communication and Documentation
  
  24 Questions to Ask When Evaluating a Property Management Contract
  Yeah, TLDR.
  Nothing personal, but long posts like that don't get read, especially when they are repeatedly posted.
  It would work better as a download for those that are interested. Or make it into an eBook and sell it.
  The real issue I'm commenting on, is that people think they can buy a property while in California and invest in Michigan or Ohio or Texas or Georgia, get a good deal, have a property manager remotely manage it and still make money.
  I haven't seen or heard of that happening successfully over the long term.
  The forums are full of people dissatisfied with that arrangement.
  
  Understood:)
  BTW: clients that actually listen to our advice do make money over the long-term🤑
  Very good! How much money and over what length of time?
  0 Reply
- Drew SygitBusiness Member
  Property Manager · Royal Oak, MI · Member since 2012 · 13k+ posts · 9k+ votes
  7mo
  Quote from @Ken M.:
  
  Quote from @Drew Sygit:
  
  Quote from @Ken M.:
  
  Quote from @Drew Sygit:
  
  @Janice Carter & @Ken M.
  This is almost too easy😛
  Although, it appears neither of you have ever taken the time to read my copy & paste advice about screening PMCs😌
  Maybe now would be a good time?
  ----------------------------------------------------------------------------------
  We’re a Property Management Company (PMC) in Metro Detroit ONLY, with 25+ years of experience, and we’ve seen owners make the same mistakes, over & over again when looking to hire a PMC – which drives us nuts!.
  
  In our experience, the #1 mistake owners make is ASSUMING all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY.
  
  So, owners mistakenly think price is the only differentiator – and look for a PMC like they’d shop for groceries☹
  
  We encourage you to learn from the mistakes of others by reading posts here on BiggerPockets from owners that picked a PMC solely by price and regretted it.
  
  We recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.
  
  Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.
  
  Even if someone gives you a referral, do NOT make the mistake of assuming that just because a PMC met their expectations, they’ll meet your expectations. We all have our own expectations and what works for someone else, may not work for you.
  
  If you’re new to all of this, it's often a case of not doing enough research, as you don't know what you don't know!
  
  So, ask more questions!
  
  EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean? What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.? You’d be shocked by how little actual screening many PMC’s do!
  
  This also leads owners to ASSUME simpler is better when it comes to management contracts.
  
  The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!
  
  A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings. Why do you think purchase contracts are so long and have such small print?
  
  We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.
  
  EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!
  
  P.S. If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general. Take ownership of your mistake and learn to do the proper due diligence recommended above😊
  
  Here’s some articles we’ve contributed to BiggerPockets about screening a PMC BETTER than you would a tenant!
  
  20 Questions to Ask When Vetting a Property Management Company: Processes
  
  13 Questions to Ask to a PMC: Communication and Documentation
  
  24 Questions to Ask When Evaluating a Property Management Contract
  Yeah, TLDR.
  Nothing personal, but long posts like that don't get read, especially when they are repeatedly posted.
  It would work better as a download for those that are interested. Or make it into an eBook and sell it.
  The real issue I'm commenting on, is that people think they can buy a property while in California and invest in Michigan or Ohio or Texas or Georgia, get a good deal, have a property manager remotely manage it and still make money.
  I haven't seen or heard of that happening successfully over the long term.
  The forums are full of people dissatisfied with that arrangement.
  
  Understood:)
  BTW: clients that actually listen to our advice do make money over the long-term🤑
  Very good! How much money and over what length of time?
  First year is always tough stabilizing a rental, but decent percentage of time there's overall positive cashflow.
  
  Then 8%+ in 2-3 years.
  [email protected]248-209-6824
  Logical Property Management4.9462 Reviews
  Website View Page
  0 Reply
- Ken M.
  Investor · Get yourself trained before doing something inadvisable. · Member since 2024 · 3k+ posts · 1k+ votes
  7mo
  Quote from @Drew Sygit:
  
  Quote from @Ken M.:
  
  Quote from @Drew Sygit:
  
  Quote from @Ken M.:
  
  Quote from @Drew Sygit:
  
  @Janice Carter & @Ken M.
  This is almost too easy😛
  Although, it appears neither of you have ever taken the time to read my copy & paste advice about screening PMCs😌
  Maybe now would be a good time?
  ----------------------------------------------------------------------------------
  We’re a Property Management Company (PMC) in Metro Detroit ONLY, with 25+ years of experience, and we’ve seen owners make the same mistakes, over & over again when looking to hire a PMC – which drives us nuts!.
  
  In our experience, the #1 mistake owners make is ASSUMING all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY.
  
  So, owners mistakenly think price is the only differentiator – and look for a PMC like they’d shop for groceries☹
  
  We encourage you to learn from the mistakes of others by reading posts here on BiggerPockets from owners that picked a PMC solely by price and regretted it.
  
  We recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.
  
  Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.
  
  Even if someone gives you a referral, do NOT make the mistake of assuming that just because a PMC met their expectations, they’ll meet your expectations. We all have our own expectations and what works for someone else, may not work for you.
  
  If you’re new to all of this, it's often a case of not doing enough research, as you don't know what you don't know!
  
  So, ask more questions!
  
  EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean? What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.? You’d be shocked by how little actual screening many PMC’s do!
  
  This also leads owners to ASSUME simpler is better when it comes to management contracts.
  
  The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!
  
  A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings. Why do you think purchase contracts are so long and have such small print?
  
  We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.
  
  EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!
  
  P.S. If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general. Take ownership of your mistake and learn to do the proper due diligence recommended above😊
  
  Here’s some articles we’ve contributed to BiggerPockets about screening a PMC BETTER than you would a tenant!
  
  20 Questions to Ask When Vetting a Property Management Company: Processes
  
  13 Questions to Ask to a PMC: Communication and Documentation
  
  24 Questions to Ask When Evaluating a Property Management Contract
  Yeah, TLDR.
  Nothing personal, but long posts like that don't get read, especially when they are repeatedly posted.
  It would work better as a download for those that are interested. Or make it into an eBook and sell it.
  The real issue I'm commenting on, is that people think they can buy a property while in California and invest in Michigan or Ohio or Texas or Georgia, get a good deal, have a property manager remotely manage it and still make money.
  I haven't seen or heard of that happening successfully over the long term.
  The forums are full of people dissatisfied with that arrangement.
  
  Understood:)
  BTW: clients that actually listen to our advice do make money over the long-term🤑
  Very good! How much money and over what length of time?
  First year is always tough stabilizing a rental, but decent percentage of time there's overall positive cashflow.
  
  Then 8%+ in 2-3 years.
  Now I'm curious, how many dollars does 8% represent?
  Is that after all expense and property management fees?
  0 Reply
- Drew SygitBusiness Member
  Property Manager · Royal Oak, MI · Member since 2012 · 13k+ posts · 9k+ votes
  7mo
  Quote from @Ken M.:
  
  Quote from @Drew Sygit:
  
  Quote from @Ken M.:
  
  Quote from @Drew Sygit:
  
  Quote from @Ken M.:
  
  Quote from @Drew Sygit:
  
  @Janice Carter & @Ken M.
  This is almost too easy😛
  Although, it appears neither of you have ever taken the time to read my copy & paste advice about screening PMCs😌
  Maybe now would be a good time?
  ----------------------------------------------------------------------------------
  We’re a Property Management Company (PMC) in Metro Detroit ONLY, with 25+ years of experience, and we’ve seen owners make the same mistakes, over & over again when looking to hire a PMC – which drives us nuts!.
  
  In our experience, the #1 mistake owners make is ASSUMING all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY.
  
  So, owners mistakenly think price is the only differentiator – and look for a PMC like they’d shop for groceries☹
  
  We encourage you to learn from the mistakes of others by reading posts here on BiggerPockets from owners that picked a PMC solely by price and regretted it.
  
  We recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.
  
  Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.
  
  Even if someone gives you a referral, do NOT make the mistake of assuming that just because a PMC met their expectations, they’ll meet your expectations. We all have our own expectations and what works for someone else, may not work for you.
  
  If you’re new to all of this, it's often a case of not doing enough research, as you don't know what you don't know!
  
  So, ask more questions!
  
  EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean? What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.? You’d be shocked by how little actual screening many PMC’s do!
  
  This also leads owners to ASSUME simpler is better when it comes to management contracts.
  
  The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!
  
  A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings. Why do you think purchase contracts are so long and have such small print?
  
  We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.
  
  EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!
  
  P.S. If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general. Take ownership of your mistake and learn to do the proper due diligence recommended above😊
  
  Here’s some articles we’ve contributed to BiggerPockets about screening a PMC BETTER than you would a tenant!
  
  20 Questions to Ask When Vetting a Property Management Company: Processes
  
  13 Questions to Ask to a PMC: Communication and Documentation
  
  24 Questions to Ask When Evaluating a Property Management Contract
  Yeah, TLDR.
  Nothing personal, but long posts like that don't get read, especially when they are repeatedly posted.
  It would work better as a download for those that are interested. Or make it into an eBook and sell it.
  The real issue I'm commenting on, is that people think they can buy a property while in California and invest in Michigan or Ohio or Texas or Georgia, get a good deal, have a property manager remotely manage it and still make money.
  I haven't seen or heard of that happening successfully over the long term.
  The forums are full of people dissatisfied with that arrangement.
  
  Understood:)
  BTW: clients that actually listen to our advice do make money over the long-term🤑
  Very good! How much money and over what length of time?
  First year is always tough stabilizing a rental, but decent percentage of time there's overall positive cashflow.
  
  Then 8%+ in 2-3 years.
  Now I'm curious, how many dollars does 8% represent?
  Is that after all expense and property management fees?
  
  Yes, that's after all expenses.
  Typical house is $90k-$110k
  [email protected]248-209-6824
  Logical Property Management4.9462 Reviews
  Website View Page
  0 Reply
Janice Carter
OP
Real Estate Broker · Atlanta · Member since 2024 · 1k+ posts · 608 votes
7mo
@Drew Sygit As a property manager myself, I completely agree that price should never be the primary deciding factor. The quality of tenant screening, communication, lease enforcement and how issues are handled day-to-day will impact your bottom line far more than a small difference in management fees.

Owners really need to dig into how services are performed, not just what is listed and make sure everything is clearly defined in the agreement. Proper due diligence upfront will save a lot of time, money and frustration later.
1 Reply
Steve K.
Realtor · Boulder, CO · Member since 2016 · 3k+ posts · 5k+ votes
7mo
I haven’t been keeping accurate records or anything but I’d say that about 9 out of 10 out of state investors that I’ve known personally have failed.
On the other hand, literally all of the out of state investors who I’ve helped invest from out of state here have done really, really well. So my take-away is obviously that out of state investors will fail unless they use me as their agent ;). Kinda half-joking of course… I do think having a competent agent who cares is a critical piece of the puzzle. Another big one is investing in a good location which I am lucky to live in one of those too.
Here are the other things that all out of state investors I know who have been successful have going for them:
1. They are well capitalized. Owning property can be expensive at times and if you can’t weather the storm when big ticket capex items hit unexpectedly or the rent stops coming in for a few months due to tenant issues, you’re cooked. Adequate cash reserves are a must. This is true for all rental property but especially owning remotely because you will be paying others for everything. At least if you’re local you can do things yourself and save money if needed. Owning remotely, you’re stuck writing checks from afar or spending money to get there personally.
2. They have some personal connection to the place they’re investing. Either grew up there, went to college there, lived there for awhile, travel there often, have family there etc. It’s really hard to know a market well enough to make a smart buy, on at least a street by street (or even better, house by house) basis without having spent time there. RE is also a relationship business and it’s more common to have good relationships with people in areas you’re familiar with (agents, PMs, vendors, trades, tenants, etc.).
3. They invest only in Class A or B properties. Higher quality properties are much easier to manage and much lower risk, making them much better suited for remote investors.
4. They have some background in real estate already in their home market. It’s a tough learning curve when you’re getting started and even harder when you can’t simply go to the property to assess situations and make decisions, press the flesh, get your hands dirty, be a good landlord not someone who is ignorant about what is happening at their property etc.
I wouldn’t say that remote investing can’t work, just that it usually doesn’t work. Most out of state investors are clueless, chasing some spreadsheet magic and they buy based on hope and nothing more, mistakenly thinking a higher cap rate is going to mean higher returns, and forgetting that all rental property is priced for risk.
Buying a Class A kiddy condo in a swanky college town for your responsible child to live in with housemates offsetting their living expenses while they attend school can be a great out of state investing move.
Buying a Class D dump in a market experiencing terminal post-industrial decline just because the magic spreadsheet or fancy new AI underwriting tool says it will cash flow $250/month, not so much. Typically operating expenses, unexpected capex/ repairs/ maintenance issues, and tenant-related problems/ vacancy loss eat up any potential profits. After losing money for a few years out of state investors usually end up selling at a loss.
There are also scammers who prey on out of state investors and I have known several people who have fallen into that trap. One friend thought they had bought 3 turnkey properties that were operating well but found out later they had bought 3 derelict properties with squatters in them (Morris Invest). Another doctor friend couldn’t figure out why the vacancy rate of their Reno apartment building was always around 50% despite being in a desirable location and good condition. They let this go for years then finally looked into it personally and found out that the property was actually full, but the PM had just been pocketing half the rent for years.
Increased distance equals increased risk.
3 Reply
- Jay HinrichsBusiness Member
  Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
  7mo
  Quote from @Steve K.:
  
  I haven’t been keeping accurate records or anything but I’d say that about 9 out of 10 out of state investors that I’ve known personally have failed.
  On the other hand, literally all of the out of state investors who I’ve helped invest from out of state here have done really, really well. So my take-away is obviously that out of state investors will fail unless they use me as their agent ;). Kinda half-joking of course… I do think having a competent agent who cares is a critical piece of the puzzle. Another big one is investing in a good location which I am lucky to live in one of those too.
  Here are the other things that all out of state investors I know who have been successful have going for them:
  1. They are well capitalized. Owning property can be expensive at times and if you can’t weather the storm when big ticket capex items hit unexpectedly or the rent stops coming in for a few months due to tenant issues, you’re cooked. Adequate cash reserves are a must. This is true for all rental property but especially owning remotely because you will be paying others for everything. At least if you’re local you can do things yourself and save money if needed. Owning remotely, you’re stuck writing checks from afar or spending money to get there personally.
  2. They have some personal connection to the place they’re investing. Either grew up there, went to college there, lived there for awhile, travel there often, have family there etc. It’s really hard to know a market well enough to make a smart buy, on at least a street by street (or even better, house by house) basis without having spent time there. RE is also a relationship business and it’s more common to have good relationships with people in areas you’re familiar with (agents, PMs, vendors, trades, tenants, etc.).
  3. They invest only in Class A or B properties. Higher quality properties are much easier to manage and much lower risk, making them much better suited for remote investors.
  4. They have some background in real estate already in their home market. It’s a tough learning curve when you’re getting started and even harder when you can’t simply go to the property to assess situations and make decisions, press the flesh, get your hands dirty, be a good landlord not someone who is ignorant about what is happening at their property etc.
  I wouldn’t say that remote investing can’t work, just that it usually doesn’t work. Most out of state investors are clueless, chasing some spreadsheet magic and they buy based on hope and nothing more, mistakenly thinking a higher cap rate is going to mean higher returns, and forgetting that all rental property is priced for risk.
  Buying a Class A kiddy condo in a swanky college town for your responsible child to live in with housemates offsetting their living expenses while they attend school can be a great out of state investing move.
  Buying a Class D dump in a market experiencing terminal post-industrial decline just because the magic spreadsheet or fancy new AI underwriting tool says it will cash flow $250/month, not so much. Typically operating expenses, unexpected capex/ repairs/ maintenance issues, and tenant-related problems/ vacancy loss eat up any potential profits. After losing money for a few years out of state investors usually end up selling at a loss.
  There are also scammers who prey on out of state investors and I have known several people who have fallen into that trap. One friend thought they had bought 3 turnkey properties that were operating well but found out later they had bought 3 derelict properties with squatters in them (Morris Invest). Another doctor friend couldn’t figure out why the vacancy rate of their Reno apartment building was always around 50% despite being in a desirable location and good condition. They let this go for years then finally looked into it personally and found out that the property was actually full, but the PM had just been pocketing half the rent for years.
  Increased distance equals increased risk.
  
  some simple realities when it comes to RE Location location location. And rental returns are risk adjusted. Higher returns out of the box more risk. One can invest in those areas that are dominated by out of state investors.. However the investor tends to let their spread sheet determine what they buy instead of going for quality and lower returns out of the gate they go for what they think they should be getting and that is returns on the higher side to even make sense of buying a rental and so the investor creates their own issues based on what they think they need for a return.. Keep in mind at least for me when I started in the SF Bay Area cash flow was just enough to cover expense's and maybe you had to feed them monthly for a few years you made money with appreciation and mortgage paydown and tax write offs.. Unless you were paying cash for very large downpayments does anyone expect cash flow day one from high value assets that are coveted in A B class markets with corresponding tenant base. Just sayin.
  Podcast Guest on Show #222
  JLH Capital Partners51 Review
  Website View Page
  3 Reply
Janice Carter
OP
Real Estate Broker · Atlanta · Member since 2024 · 1k+ posts · 608 votes
7mo
@Steve K. I agree with much of what you shared, especially the importance of buying in the right location. Real estate investing always comes down to location, whether in-state or out-of-state. Out-of-state investing can definitely work but as mentioned, the key is having a strong, reliable local team in place before you purchase, not after.

0 Reply
Bo SmithPro Member
Hinton, WV · Member since 2026 · 1k+ posts · 375 votes
7mo
Janice nailed this. The pattern is predictable: an investor buys a property that "looks good on paper" (cap rate, rent-to-value ratio, etc), then gets blindsided by operational reality. And it's almost always because they didn't build the infrastructure first.
What I've seen work: the investors who succeed out-of-state actually do this in reverse order. They DON'T chase the "best deal." They first move capital into a market where they can build a real team -- meaning they spend time there, meet contractors, interview agents, and develop judgment about what's actually possible. Then they invest. They treat the team as a prerequisite, not an afterthought.
The underwriting piece matters too. Janice mentioned being conservative vs pro forma numbers -- that's huge. When you're out-of-state, assumption errors compound. An optimistic rent number, an underestimated vacancy rate, a contractor who overcommits -- any one of those kills the deal. But when you're local, you catch these things. When you're 1,000 miles away, you don't.
Also: set it and forget it is a death sentence for out-of-state portfolios. Even if you hire a property manager, you need eyes on the property monthly at minimum. Walk through it yourself. Talk to the tenant. Drive the neighborhood. If you can't commit to that level of attention, don't buy out of state.
For people reading this who want to go out-of-state: spend 3-6 months building your local team first. Do one or two smaller deals to prove the system works. Then scale. What's the biggest difference between successful and failed out-of-state investments you're seeing right now in Atlanta?
2 Reply
Dimitrius Kiritsis
Investor · Carmel, IN · Member since 2024 · 55 posts · 22 votes
7mo
Out-of-state works, but only if you treat it like a business, not a passive investment. The “looks good on paper” deals usually fall apart from weak ops, not bad assets.

Local team + conservative underwriting + active oversight is the whole game!
0 Reply
Danae PitcherBusiness Member
Realtor · Orlando, FL · Member since 2023 · 61 posts · 61 votes
7mo
In our area - Central Florida / Theme Park STR homes, the most important part of the equation is a great property management company. The swing between a good and bad PM company, dollar for dollar is hard to believe. I have seen people literally go from a failing asset to something that becomes a top performer just by aligning themselves with the right team. Of course, getting a great deal at the beginning helps too, which is what I always strive to deliver.
[email protected]863-255-2300
Florida Resort Realty512 Reviews
Website View Page
0 Reply
- Ken M.
  Investor · Get yourself trained before doing something inadvisable. · Member since 2024 · 3k+ posts · 1k+ votes
  7mo
  Quote from @Danae Pitcher:
  
  In our area - Central Florida / Theme Park STR homes, the most important part of the equation is a great property management company. The swing between a good and bad PM company, dollar for dollar is hard to believe. I have seen people literally go from a failing asset to something that becomes a top performer just by aligning themselves with the right team. Of course, getting a great deal at the beginning helps too, which is what I always strive to deliver.
  Just curious, how do you define "a top performer" in dollar profits. How much does an STR have to clear of all expenses to be "a top performer" in your opinion?
  0 Reply
- Danae PitcherBusiness Member
  Realtor · Orlando, FL · Member since 2023 · 61 posts · 61 votes
  7mo
  @Ken M. Everyone has a different view of what is considered a top performing property. But I'm not only talking about the money. I'm talking about the house running more efficiently, having less damages, getting better reviews, etc.
  [email protected]863-255-2300
  Florida Resort Realty512 Reviews
  Website View Page
  0 Reply
- Ken M.
  Investor · Get yourself trained before doing something inadvisable. · Member since 2024 · 3k+ posts · 1k+ votes
  7mo
  Quote from @Danae Pitcher:
  
  @Ken M. Everyone has a different view of what is considered a top performing property. But I'm not only talking about the money. I'm talking about the house running more efficiently, having less damages, getting better reviews, etc.
  
  Your comment "But I'm not only talking about the money."
  
  So, it's okay for the average investor to lose money every month, because he'll make it up in
  the long run?
  
  That's like the guy that says "we lose 25 cents on every box of eggs we sell, but we'll make it up in volume"
  
  That's an old joke we used to tell about a very bad business plan.
  
  When I put someone into a property, they make money from the get go. The seller is happy. I make money, my client makes money, everybody makes money because that's what makes for a good deal and a happy investor.
  
  I don't believe in the idea that you have to lose money for a few years to hopefully make money in the future. That's working too hard ;-)
  
  0 Reply
- Danae PitcherBusiness Member
  Realtor · Orlando, FL · Member since 2023 · 61 posts · 61 votes
  7mo
  @Ken M. I didn't say anything about not making money and I certainly wouldn't advocate an investor lose money for several years. I just said I wasn't ONLY talking about the financial aspect with respect to a good PM. Now that you mention it though, I do have some clients who don't care if their investment makes money or not because it's a tax play. That's for a different thread. :-)
  [email protected]863-255-2300
  Florida Resort Realty512 Reviews
  Website View Page
  0 Reply
Eric FernwoodBusiness Member
Realtor · Las Vegas, NV · Member since 2014 · 1k+ posts · 1k+ votes
7mo
Quote from @Janice Carter:
In the Metro Atlanta market when out of state investors failed, I keep seeing the same pattern. They purchase what looks like a solid deal on paper that is good price, decent rent in a decent neighborhood but then things start to unravel. The tenant stops paying, maintenance issues go unaddressed, expenses begin to creep up and cash flow disappears. Before long, they are frustrated, stressed and questioning the entire investment. The reality is, it is usually not the property that failed but the lack of a strong local system.
The investors I see succeed long-term all have a few things dialed in:

A reliable local team (an experienced real estate agent and a contractor or a property manager)

Conservative underwriting (not just pro forma numbers)

Strong tenant screening upfront (this is huge)

Ongoing oversight, not just “set it and forget it”

Out-of-state investing absolutely works but only if the infrastructure is in place.

Curious to hear from others:

👉 If you have invested out of state, what has been your biggest challenge?
👉 What systems or people made the biggest difference for you?

(and if you are currently investing in the Southeast, happy to share what we are seeing on the ground.)
Hello Janice,

Excellent post. If your goal is long-term financial independence, remote investing is the only option for most people.

Live where you like but invest where you can achieve your long-term goals.

The odds of living in a city that meets all the requirements are low.

The process I recommend for successful remote investing is:
1. Define your long-term financial goals. For many, this means achieving financial independence over time. To do this, you need rental income that grows faster than inflation. This helps you keep your purchasing power, which is how much your money can buy. Inflation raises prices, so the same amount of money buys less as time goes on. For example, if a gallon of milk costs $4 today, it might cost $8 a few years from now. If your rental income does not increase faster than inflation, you won't have the $8 needed to buy that gallon of milk.
2. The city defines long term financial performance. Choose a city with significant and sustained population growth. The metro area should have more than 1 million people, low costs (property taxes and insurance), no rent control, and rising personal income.
3. Find an experienced local investment team with the processes, reassurances and experience to carry a property from identification through monetization.
4. Select a tenant segment that meets your financial goals. Properties do not pay rent; tenants do. Choose a tenant segment that stays for many years, pays on schedule, and takes care of the property. You can identify this segment through interviews with property managers.
5. Determine what and where this segment is currently renting.
6. Buy similar properties.
This financial goal centric approach reduces risk, time, and guess work.

I know remote investing works because we’ve delivered over 600 investment properties to more than 170 clients worldwide. Fewer than ten of our clients were local. All the rest live in other states or countries. Clients choose to buy in Las Vegas because they could not achieve their financial goals where they live.
[email protected]702-358-8884
FERNWOOD Team, KW VIP Realty520 Reviews
Website View Page
1 Reply
Lency Chiles
Member since 2025 · 16 posts · 10 votes
7mo
I couldn't agree more- I'm starting in a new market and almost went through the ringer with what I thought was a solid team. I took a trip out to visit the team I'd assembled online and found that the offices were empty- just a single PM assistant and a single agent with no investor experience and the company was about to relocate their main contractor (I found out during lunch with my agent and the contractor) . I did a hard pivot after realizing this was a strong team over the phone/on paper but not IRL. Like you said if you're out of state you need to have a team that you trust and you can rely on your run your business
0 Reply
Alioune Camara
Realtor · OH · Member since 2026 · 122 posts · 77 votes
7mo
Quote from @Janice Carter:
In the Metro Atlanta market when out of state investors failed, I keep seeing the same pattern. They purchase what looks like a solid deal on paper that is good price, decent rent in a decent neighborhood but then things start to unravel. The tenant stops paying, maintenance issues go unaddressed, expenses begin to creep up and cash flow disappears. Before long, they are frustrated, stressed and questioning the entire investment. The reality is, it is usually not the property that failed but the lack of a strong local system.
The investors I see succeed long-term all have a few things dialed in:

A reliable local team (an experienced real estate agent and a contractor or a property manager)

Conservative underwriting (not just pro forma numbers)

Strong tenant screening upfront (this is huge)

Ongoing oversight, not just “set it and forget it”

Out-of-state investing absolutely works but only if the infrastructure is in place.

Curious to hear from others:

👉 If you have invested out of state, what has been your biggest challenge?
👉 What systems or people made the biggest difference for you?

(and if you are currently investing in the Southeast, happy to share what we are seeing on the ground.)
Janice, you’ve hit the nail on the head regarding the "Pro Forma Trap" where investors mistake a high-yield spreadsheet for a high-yield reality without accounting for the "boots-on-the-ground" friction of the Atlanta market. To move from a "set and forget" mentality to a true business operation, successful out-of-state owners must implement a "Third-Party Audit" system, such as hiring a separate inspector or a different agent to perform a 15-minute "walk-through" twice a year, ensuring the property manager isn't overlooking deferred maintenance. Since maintenance creep is the silent killer of cash flow, I recommend building a pre-vetted contractor "firewall" so you aren't solely dependent on a PM's internal (and often upcharged) repair team. Ultimately, the infrastructure only works if you have a "Single Source of Truth" for your data, like a shared Google Workspace or a CRM to track every tenant interaction and repair ticket in real-time. I hope that helps.
0 Reply
Janice Carter
OP
Real Estate Broker · Atlanta · Member since 2024 · 1k+ posts · 608 votes
7mo
@Jay Hinrichs It really does come down to risk-adjusted returns and understanding the market you are investing in. Also, I do believe most experienced investors don’t expect immediate cash flow especially in A and B class areas. Long term gains from appreciation, equity paydown and tax benefits are often the real play.

0 Reply
Janice Carter
OP
Real Estate Broker · Atlanta · Member since 2024 · 1k+ posts · 608 votes
7mo
@Alioune Camara Thanks for your input. The third-party audit and contractor “firewall” are smart ways to stay ahead of maintenance creep and protect cash flow.

1 Reply
Janice Carter
OP
Real Estate Broker · Atlanta · Member since 2024 · 1k+ posts · 608 votes
7mo
@Dimitrius Kiritsis Agreed. Deals don’t fail on paper, they fail in execution.
0 Reply
Janice Carter
OP
Real Estate Broker · Atlanta · Member since 2024 · 1k+ posts · 608 votes
7mo
@Eric Fernwood Great breakdown and thanks for sharing. I agree, remote investing works when it is goal driven and backed by the right market, team and tenant strategy. At the end of the day, it is about aligning the numbers with long term performance, not just convenience.
0 Reply
Janice Carter
OP
Real Estate Broker · Atlanta · Member since 2024 · 1k+ posts · 608 votes
7mo
@Lency Chiles Great call making that pivot and that is exactly why boots-on-the-ground verification matters. A team can look solid on paper but execution is everything. If you are investing out of state, trust and reliability in your team isn’t optional, it is critical.

0 Reply
Stuart UdisPro Member
Attorney · Philadelphia · Member since 2018 · 2k+ posts · 3k+ votes
7mo
@Steve K. & @Jay Hinrichs nailed it. If you were to take a poll of people making real estate investments in distant markets, most are purchasing based on what they can afford and not due to any underlying fundamentals or a clear investment thesis. In short, they end up buying lowest-tier real estate available. It doesn’t matter how good the GC if the real estate cannot absorb the cost of proper renovations and full system replacements when warranted. It doesn’t matter how capable the PM is, they can only mitigate not resolve or eliminate the issues this real estate attracts.

The property will not authorize full system repairs because the property simply can’t withstand the cost. Instead, band-aid fixes get approved. That’s where the cycle begins. The PM’s workload increases, management costs rise, tenants become dissatisfied with both the condition of the property and the level of service, and rent payments start getting delayed or withheld. The landlord becomes frustrated and begins blaming the PM and GC for not doing a good enough job. Eventually, the owner ends up on BiggerPockets asking how to eliminate the PM or what tools can be used to manage remotely. That’s the reality—none of it changes the core issue. If the real estate itself is broken, it doesn’t matter how strong the team is around it.

If you want to buy this type of real estate, get yourself a sprinter van, fill it with tools and be prepared to be your own PM and glorified maintenance technician. If you want to own sustainable real estate and want to be more hands off with the daily duties don't buy real estate unless you can afford to purchase in markets that can properly absorb the costs of doing things the right way.
[email protected]
0 Reply
Marcus Auerbach
Investor · Milwaukee - Mequon, WI · Member since 2010 · 5k+ posts · 7k+ votes
7mo
Most OOS investors fail, you just don't read about their stories, because they keep that quiet. The reality is anything you do remote is harder than if you are there. Overall you have an extra 20% or so cost burden compared to a local investor.
The worst combination is rough neighborhood + extensive repairs (BRRRR). The more steps you need to complete until you get that first rent check, the more opportunities for stuff to go wrong. And it's not one big thing that kills you, it's death by 1000 needle pricks.
To Jay's point, returns are risk adjusted. But cash flow is always earned, so you'll have to work more for more cash flow because you'll have more issues. Local investors have a better instinct for buying quality than someone looking at a 20 cell spreadsheet. And don't think more cells make it better.
So, here is my suggestion to any aspiring OOS investor: close the gap as much as you can. Pick a market you already know, where you used to live or where you have family. Easy to get to and plan on spending time there to learn. Closing the gap makes a bigger difference than finding "the best market".
Buy a single family and stay away from small MF - they are harder to manage. Buy above median price, that keeps you out of the rough areas. In Milwaukee the median sales price is 275k, we buy over 300k. We have seen now a decade of 6-7% appreciation, so good stuff is not cheap anymore. But you can't go cheap. Buy a desirable house in good condition, don't buy a weird property just because you can get a "deal". And don't cheap out on PM, you will regret it.
Politically, we start to see push back against OOS investors. When you look at the worst properties with garbage in the yard and gutters hanging down, they are almost always owned OOS. Out of sight - out of mind. The PM gets verbally beat up by the OOS owner every time they suggest an improvement, so they stop suggesting.
I had a guy from TX reaching out for help; he wanted to sell his 4 MKE properties, 1 in eviction, 2 of them vacant and not rented for like 6 months, which is strange because we fill vacancies in a week. He said they are in great shape and the rent looked reasonable to me, so I drove by. The first property was on a corner lot, next to a boarded up house, trash in the yard, overgrown vegetation. Who wants to live here?? The inside was worse: beat up, in disrepair, extremely dirty - I felt like I needed a shower afterwards. I gave him a video call and showed him, he was totally shocked. We cleaned them up one by one and sold them. He is glad Milwaukee is over for him, but that's really not the city's fault.
3 Reply
- Rebecca KnoxBusiness Member
  Specialist · Milwaukee, WI · Member since 2014 · 1k+ posts · 1k+ votes
  7mo
  Quote from @Marcus Auerbach:
  
  Most OOS investors fail, you just don't read about their stories, because they keep that quiet. The reality is anything you do remote is harder than if you are there. Overall you have an extra 20% or so cost burden compared to a local investor.
  The worst combination is rough neighborhood + extensive repairs (BRRRR). The more steps you need to complete until you get that first rent check, the more opportunities for stuff to go wrong. And it's not one big thing that kills you, it's death by 1000 needle pricks.
  To Jay's point, returns are risk adjusted. But cash flow is always earned, so you'll have to work more for more cash flow because you'll have more issues. Local investors have a better instinct for buying quality than someone looking at a 20 cell spreadsheet. And don't think more cells make it better.
  So, here is my suggestion to any aspiring OOS investor: close the gap as much as you can. Pick a market you already know, where you used to live or where you have family. Easy to get to and plan on spending time there to learn. Closing the gap makes a bigger difference than finding "the best market".
  Buy a single family and stay away from small MF - they are harder to manage. Buy above median price, that keeps you out of the rough areas. In Milwaukee the median sales price is 275k, we buy over 300k. We have seen now a decade of 6-7% appreciation, so good stuff is not cheap anymore. But you can't go cheap. Buy a desirable house in good condition, don't buy a weird property just because you can get a "deal". And don't cheap out on PM, you will regret it.
  Politically, we start to see push back against OOS investors. When you look at the worst properties with garbage in the yard and gutters hanging down, they are almost always owned OOS. Out of sight - out of mind. The PM gets verbally beat up by the OOS owner every time they suggest an improvement, so they stop suggesting.
  I had a guy from TX reaching out for help; he wanted to sell his 4 MKE properties, 1 in eviction, 2 of them vacant and not rented for like 6 months, which is strange because we fill vacancies in a week. He said they are in great shape and the rent looked reasonable to me, so I drove by. The first property was on a corner lot, next to a boarded up house, trash in the yard, overgrown vegetation. Who wants to live here?? The inside was worse: beat up, in disrepair, extremely dirty - I felt like I needed a shower afterwards. I gave him a video call and showed him, he was totally shocked. We cleaned them up one by one and sold them. He is glad Milwaukee is over for him, but that's really not the city's fault.
  
  What kills me is that they are failing...we see their code violations, the dilapidated buildings, the delinquent taxes and foreclosures...and then they are on BP or other social media pitching their false success and trying to sell coaching or find partners or claiming they will hook you up with 'their teams'.
  Captain Save-A-Home LLC
  Website View Page
  1 Reply
- Marcus Auerbach
  Investor · Milwaukee - Mequon, WI · Member since 2010 · 5k+ posts · 7k+ votes
  7mo
  Quote from @Rebecca Knox:
  
  Quote from @Marcus Auerbach:
  
  Most OOS investors fail, you just don't read about their stories, because they keep that quiet. The reality is anything you do remote is harder than if you are there. Overall you have an extra 20% or so cost burden compared to a local investor.
  The worst combination is rough neighborhood + extensive repairs (BRRRR). The more steps you need to complete until you get that first rent check, the more opportunities for stuff to go wrong. And it's not one big thing that kills you, it's death by 1000 needle pricks.
  To Jay's point, returns are risk adjusted. But cash flow is always earned, so you'll have to work more for more cash flow because you'll have more issues. Local investors have a better instinct for buying quality than someone looking at a 20 cell spreadsheet. And don't think more cells make it better.
  So, here is my suggestion to any aspiring OOS investor: close the gap as much as you can. Pick a market you already know, where you used to live or where you have family. Easy to get to and plan on spending time there to learn. Closing the gap makes a bigger difference than finding "the best market".
  Buy a single family and stay away from small MF - they are harder to manage. Buy above median price, that keeps you out of the rough areas. In Milwaukee the median sales price is 275k, we buy over 300k. We have seen now a decade of 6-7% appreciation, so good stuff is not cheap anymore. But you can't go cheap. Buy a desirable house in good condition, don't buy a weird property just because you can get a "deal". And don't cheap out on PM, you will regret it.
  Politically, we start to see push back against OOS investors. When you look at the worst properties with garbage in the yard and gutters hanging down, they are almost always owned OOS. Out of sight - out of mind. The PM gets verbally beat up by the OOS owner every time they suggest an improvement, so they stop suggesting.
  I had a guy from TX reaching out for help; he wanted to sell his 4 MKE properties, 1 in eviction, 2 of them vacant and not rented for like 6 months, which is strange because we fill vacancies in a week. He said they are in great shape and the rent looked reasonable to me, so I drove by. The first property was on a corner lot, next to a boarded up house, trash in the yard, overgrown vegetation. Who wants to live here?? The inside was worse: beat up, in disrepair, extremely dirty - I felt like I needed a shower afterwards. I gave him a video call and showed him, he was totally shocked. We cleaned them up one by one and sold them. He is glad Milwaukee is over for him, but that's really not the city's fault.
  
  What kills me is that they are failing...we see their code violations, the dilapidated buildings, the delinquent taxes and foreclosures...and then they are on BP or other social media pitching their false success and trying to sell coaching or find partners or claiming they will hook you up with 'their teams'.
  
  Rebecca, you see it probably even more than I do! It is a special combination or ignorance and greed: a lack of understanding paired with an absolute believe in the idea that you can force an extra $100 in cashflow if you just try hard enough. Encouraged from an online community, who has their own knowledge more from the internet than their own experience. And in the process the streets and neighborhoods suffer the collateral damage: property values drop and neighbors reduce their own upkeep, because what's the point.
  
  What frustrates me the most is that they are completely impervious to advice. It's almost like they take any suggestions for a better approach as proof of gate keeping to the "secrets of real estate investing".
  
  I have literally been told I don't understand investing and they will look for someone who is a "better fit", meaning someone who will sell them the snake oil they are looking for..
  2 Reply
Stephen Geluz
New to Real Estate · Los Angeles, CA · Member since 2023 · 83 posts · 29 votes
7mo
I'm sure the importance of the local setup is often underestimated. Solid Breakdown
0 Reply
Taylor Dasch
Real Estate Agent · Temple, TX · Member since 2022 · 1k+ posts · 700 votes
7mo
Janice — solid framework. I'll add the view from the other side of this equation. I'm in Temple, TX and work with out-of-state buy-and-hold investors regularly. I've done 100+ transactions here personally (flips, BRRRR, mid-term rentals), so I see where the breakdowns happen from the boots-on-the-ground side.

The #1 failure pattern I see isn't bad markets or bad properties — it's investors who pick a market based on a spreadsheet and then try to assemble a team after they're under contract. That's backwards. The team IS the investment. I'd go further than "find a good PM" — find an agent or operator who actually invests in the market themselves. Someone running their own rental portfolio underwrites differently than someone collecting a commission check.

One concrete example: in 76502 (Temple), property tax rates run around 2.2%. Out-of-state investors routinely underwrite at 1.5% because that's what they're used to in other states. On a $220K property, that's a $1,540/year miss — enough to flip a cash-flowing deal negative. Texas has no state income tax, but property taxes will eat you alive if you estimate instead of pulling actual CAD data.

The investors I see succeed remotely do three things: they visit the market at least once before buying, they verify numbers against real data (not Zillow estimates), and they budget for PM from day one rather than planning to self-manage from 1,200 miles away. Happy to share more data on the Central TX market if anyone's evaluating it

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Why Most Out-of-State Investors Fail… (and What Actually Works Instead)

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