New Member Out Of Brooklyn, NY

9 Replies

Hello everyone. Happy to be a part of this forum. I'm located in Brooklyn but initially I'm interested in out of state investing in rental property, preferably multi-family properties as to lower the chances of tenant gaps and paying a mortgage out of pocket. Once I've established a passive income of 5-10k a month I'd like to try my hands at a flip. I don't want to purchase a turnkey property 1st, I'd rather buy low and rehab however I'm concerned with doing a long distance rehab. If it's possible to successfully oversee a rehab long distance I'm definitely interested in knowing how.

@Chris Sean - welcome!  People are definitely having success with long distance rehabs, with the right teams in place.  There are great examples to study right here on BP.  

@Chris Sean
Welcome to BP!
I have seen many successful investors doing long distance deals. I know for myself that long-distance investing would be too anxiety inducing for me. But if you think it will work for you, I would say go for it. I imagine it will require a lot of educating yourself before you jump in. Make sure to take full advantage of the BP community. I enjoy listening to the podcasts and going through the forum reading interesting threads.
Good Luck!

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