Buy and hold out of state

[Chris Seveney]

I have read several posts from investors who are in one part of the country buying rental (buy and hold) property in another state / area of the country. My question is how do they perform the due diligence to check out a property to determine if it is a worthwhile investment ? Do they travel to the area or have feet on ground to look into it ? Thanks

[Garrick Oconnell]

I live in San Diego and invest/ manage properties in AZ.

It depends on your goals 

if you are purchasing to buy and hold turn key or not I would get in touch with the area, visit, know your numbers, and really do or verify the due diligence. The better the deal usually the more challenging neighborhood. The deals that read well on paper and are turn key usually cost a little more because vacancies are lower etc...

Looking to wholesale or flip you can mitigate alot of your risk by buying right. Again due diligence is key.

Personally I spend at least a few weeks in every area I am thinking about investing in. I hear great things about Tennessee and Texas but i have never been there and I prefer to be within 10 hrs maximum of my hold properties.