Updated almost 7 years ago on . Most recent reply
Is it common to own rentals outside your city?
I'm working on buying my first rental property and I'm curious–how common is it to own rental properties outside your area or even states away?
I planned to buy one in my city and be my own property manager, but if there's a great opportunity in another state it would be worth hiring a PM.
How common is this?
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- Real Estate Broker
- Cody, WY
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@Thomas W. do a search for @David Greene. He's a REALTOR in California that invests in other states. He has a good podcast that explains the basics and he has a good book "Long Distance Real Estate Investing" in the BP bookstore that is very good.
I manage around 300 rentals and most of my owners are out-of-state investors. It's pretty common. However, I think you are better off investing locally where you can watch the property and learn more quickly.
- Nathan Gesner
