How far is too far away to own rental properties?
Hi everyone, I am new to this game and my wife and I were looking to buy our first buy and hold residential property in the next year or so. As we have been educating ourselves, it has become clear that as a best practice, you should live near the area that you own properties. It sounds like this is especially true if you are a newbie. So the question is, how far is too far? How often will a land lord need to be at a property once it is past rehab and is fully rented? I am looking at living in Asheville, NC and properties in Asheville may not be as good an investment as they will be in a number of neighboring communities. Charlotte is about 2 hours away and has an abundance of deals that would cash flow. Is that too far? I know that there will be a lot of perspectives and that there is no "right answer" but any feedback from experienced investors would help provide some much needed perspective. Thanks!
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My closest property is 2200 miles away from me! It's 1000% about the team you have in place to manage the property(ies). That's all that matters. Good team = it totally works.