Investment Properties at a Distance

3 Replies

I'm looking at investment properties about 40-45 minutes away from where I currently live. The properties are triplexes and 4-plexes. I grew up in the area so I'm familiar with the good and bad areas around where I'm looking to invest. Property managers are always an options or partnering with someone who may be closer to the properties or be able to go there more often may be a way to go. The deals appear to be good for cashflow so the question is where I keep looking at a distance or look for something closer.

Only 40-45 minutes away does not seem too far at all.  I have several properties that distance away from me that I manage myself, and I have never felt that they are far away.

@Michael Fitts we have properties 45 mins-1hr away that we self manage and it’s not too much. Multifamilies like you are looking at will have more small maintenance calls due to the nature of having more tenants. Just one thing to think about. But 45 mins is not too bad if it’s a deal! Work property mgmt numbers into your analysis just to make sure it still cash flows if you want to hire it out one day.

I wouldn't think it would be too difficult. I would find a good local handiman for the little things that you don't want to run there for. Definitely figure out how they will pay rent. Mailing checks, online, self depositing, etc. Since they are all in the same area you can accomplish a lot during a visit. If you ever decide to get a manager you will be able to afford it better with multiple close properties too. Good luck!