Updated about 7 years ago on . Most recent reply
Investing out of state
I'd love to hear from folks who's first deal was out of state and what were the pros/cons of having gone through the deal. I'm close to making an offer on a property that's about 2-2.5 hrs away and am going through analysis paralysis. Thanks!
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A couple of hours away may be technically out of state but you can certainly do many property management tasks like rehab, finding tenants, mowing the grass when it's vacant etc that you would otherwise have to pay someone to do. You may want to line up a local handyperson to respond to emergencies or things that need fixing quickly. Or just pay a property manager for peace of mind.
My first flip was in OH and I am in CA and getting things to happen was slow and difficult until I flew there and spent 10 days getting things organized.