Out of state offers and travel

4 Replies

Hello all, I'm looking to invest out of state, primarily smaller townhome/single family deals (to start). Do you travel to all your deals out of state or do you rely on a reputable real estate agent and home inspector to help with these deals? The most ideal situation would be to take a flight and visit everytime I want to make a deal but this becomes costly. Also buying a bad investment would become costly so im looking for some feedback and get ideas on how I can accomplish out of state investing?

@Gerard Aliberti in this market, deals go quick. I think most out of state investors would agree that it's essential to utilize other people's time and expertise, as opposed to flying out to every potential deal. Hence, this is why OOS investors talk about the importance of developing your core four (agent, pm, lender, contractor). Once a property is under contract, then it may make sense to view in person, otherwise, as you mentioned, it will be costly. Hope this helps! 

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@Gerard Aliberti

your situation is the perfect example about BP networking; find a colleague here on BP in the area you are interested in, most investors have more deals they are working on than they can manage at some point. Build the relationship.....offer the same in exchange.

Good luck! 

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