First Flip or BRRR, is out of state too much to tackle?

[Tina Doolan]

I have been doing a lot of research and am hoping to purchase my first investment property this year.

I've been considering BRRRR vs Flipping but where I live in Phoenix, prices are high even in some of the more questionable areas, making it difficult to find good deals.

I am from the Cleveland area and am very familiar with many of the suburbs, so I've been considering investing there instead.

For those of you who have invested out of state, especially on your first deal:

• How difficult was it to build a reliable team (agent, lender, contractor, property manager)?
• What was the biggest challenge you faced?
• Looking back, would you recommend starting remotely or waiting until you could invest closer to home?

I'd appreciate any advice from those who have successfully invested out of state as a beginner.

[Alfath Ahmed]

Quote from @Tina Doolan:

I have been doing a lot of research and am hoping to purchase my first investment property this year.

I've been considering BRRRR vs Flipping but where I live in Phoenix, prices are high even in some of the more questionable areas, making it difficult to find good deals.

I am from the Cleveland area and am very familiar with many of the suburbs, so I've been considering investing there instead.

For those of you who have invested out of state, especially on your first deal:

• How difficult was it to build a reliable team (agent, lender, contractor, property manager)?
• What was the biggest challenge you faced?
• Looking back, would you recommend starting remotely or waiting until you could invest closer to home?

I'd appreciate any advice from those who have successfully invested out of state as a beginner.

 I am curious considering that you live in cleveland. Why do you want to invest in Phoenix? I live in columbus and own 30+ rental units here and sell over 120+ homes to out of state investors. 

They buy here because the market is landlord-friendly, tech companies are shifting/investing here, and the deal flow supply and demand is there alongside cashflow and appreciation. 

You should look inside of ohio in my opinion and it is a bonus that you are from the cleveland area.