Probably your main consideration when investing in real estate in another state is to be familiar with that state's tenant and landlord laws.
What you don't know CAN hurt you. So do your due diligence and make sure that the strategy you know works in California will work in other states as well.
If you don't know the area, here's what you'll need:
- A local real estate agent
- A loan officer licensed to originate loans in that state
- A local property manager (they should have repairmen, contractors, etc. contacts for you)
It works best when you have local "boots on the ground" so to speak, meaning friends or family members who can keep an eye on the property for you... which your property manager can do for you, but for a fee.
I would recommend reading BiggerPocket's book on long distance real estate investing for a ton of other tips as well: https://www.biggerpockets.com/store/long-distance-real-estate-investing-ultimate
If you have any questions about the Phoenix Metro Area market when you're considering which area to invest in, feel free to reach out and I'll try to get your questions answered or point you in the right direction!
@wes blackwell, thanks so much for clearing that up for me, I couldn't get an answer for the longest time. I'm actually very intrested in the Tucson market.
I’m here in Tucson looking at mostly multi family. Are you familiar with the city?
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