Out of State Investors

[Prachi Metha]

Mainly for out of syate investors how do you guys manage your property in arizona? Do you visit it regularly or have property management helpout? I want to understand different options that are there to help manage properties.  I am in middle of getting my first investment property in mesa area but all stress managing out of State keeps me up all night.  Any thoughts/ideas please pour in

[Stone Jin]

@Prachi Metha

We self manage in Az and in Ohio. They key is having good systems in place. The thing to remind yourself is if you owned a place locally and a tenant calls and says ac is broken, do you go yourself or have a Hvac company go? We outsource all service calls.

The biggest challenge I’ve found managing out of state is actually showing the home. You can take a video and send to perspective tenants and if they really want to view in person you can use a service like rently to manage remote showings.

Lastly screen hard and make sure you have a very good tenant (good job, good rental history, clean background, proof of paying debts).

If you do those things you can absolutely self manage from afar. We have tenants that we have never met both locally and out of state. If you buy a good property and get a good tenant you can do it too. On the flip side, if you don’t take care of your property or don’t screen well for a tenant l, even with a property manager you will still have a bad experience.