Long Distance Investment Properties

General Landlording & Rental Properties
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Long Distance Investment Properties

Amanda Bruneau
Real Estate Agent · Providence, RI · Member since 2020 · 41 posts · 29 votes

I love the idea of buying rental properties in a more landlord-friendly area, but the idea of managing a rental property from afar is terrifying. I would love to hear people's experiences with doing this and how it has worked for them. Thank you!

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Zach LemasterBusiness Member
Rental Property Investor · Denver, CO · Member since 2015 · 1k+ posts · 3k+ votes
5y

@Amanda Bruneau

Investing out of state can be an excellent way to achieve better returns & cash flow especially if you live in a very expensive market.  Of course, you need the right boots on the ground team to assist with all aspects of the home including management.  So as long as you have the right team in place you can build a very successful portfolio with this strategy.  Ultimately I believe it is ideal to have a diversified portfolio across a few different markets depending on your goals.  That is how my wife & I have successfully built a large portfolio over many years allowing us to retire from our professional careers in healthcare.

I would highly consider looking at new builds in FL that have excellent cash flow, strong appreciation in a great area on a brand new build that could have $30k+ of immediate equity!  That is the best opportunity we've seen for quite some time in this market climate.  I'm happy to answer any questions you have at any point in time!

[email protected]800-311-6781Podcast Guest on Show How to Get 10%+ Off Your Next Real Estate Deal Right Now
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  • Tracy D.
    Rental Property Investor · New York City, NY · Member since 2021 · 8 posts · 3 votes
    5y

    @Zach Lemaster , according to https://www.deptofnumbers.com/..., Cape Coral had a 10% vacancy rate in 2019. How does that compare with what you're seeing today? You mentioned the new builds have taken 6-8 months to complete. Due to the pandemic, there has been a shortage and increased cost of building materials. Has that impacted this 6-8 time period and the $238k asking price?

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  • Zach LemasterBusiness Member
    Rental Property Investor · Denver, CO · Member since 2015 · 1k+ posts · 3k+ votes
    5y

    @Tracy D.

    Hi Tracy!  I'm not sure what all data points this source is using to determine this vacancy 10% a couple of years ago.  What I can tell you is there is an extreme housing shortage in CC currently.  Our PM does not have any vacancies currently, and there is a waitlist for leasing for homes.  Searching mls & other sources there is only one 4bd available for rent (as of today) in all of CC.  There is extreme demand for housing, and most all builds either sell to retail owners, or lease out prior to even being completed.  This also allows for strong appreciation!

    This demand has also caused increased cost in land & materials, so prices will continue to increase over time as with most new construction projects.  Feel free to reach out with any additional questions.

    [email protected]800-311-6781Podcast Guest on Show How to Get 10%+ Off Your Next Real Estate Deal Right Now
    Rent To Retirement5334 Reviews
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