Experience in Out-of-State Investments
Hello Everyone,
I am beginning my REI adventure with out-of-state rentals; primarily because I simply cannot afford buying a house where I live (Sonoma Co., CA). I have read several books on the matter ("Long-Distance Real Estate Investing" by David Greene, "The Millionaire Real Estate Investor" by Gary Keller, etc.), however I would like to open a discussion to fellow BP members on their experiences.
Currently my objective has been to study the markets and demographics of different areas and find one that suits me best. I had recently honed in on Houston, TX and have now been building a contact list of investor-friendly realtors I can interview.
Generally, what has your experiences been investing out-of-state?
What steps do you take to mitigate risks?
What are a few key things you look for in a realtor?
Any general advice you would like to give to me would be greatly appreciated.
Thank you so much for your time!
Best,
JoJo Tucker