New Investor Looking For Out of State Investment

[Mark Roussin]

New to the BiggerPockets community and looking to connect with other investors and agents in target markets. Being that I live in Southern CA, local deals are not something I am looking for. As such, I am looking for any advice from any of you that have out of state Investment properties.

Look forward to connecting with you!

Mark

[Steve Rozenberg]

Hi Mark,

I grew up in SoCal in HB, live in Texas now. Out-of-state investing can be very tricky if you don't know what you're doing. My suggestion is figure out what the goal is you want out of owning real estate and then figure out the strategy and what Market gives you the strategy.

I did a series on BiggerPockets that you can see on YouTube that I help someone out of state purchase of property sight unseen.

It's a 9 part series on the BP YouTube Channel and the biggest lessons and takeaways were to make sure that we knew what the end result of owning the property was and then we could identify the market and once we identified the market we built the team and then we started finding the deals.

This person (Joe) had the team we built find deals basic on his criteria, purchased the property out of state , we closed on it, did a $30,000 rehab, got it rented, and he's never once been to the property. As a matter of fact he's a Marine and he went out on deployment shortly after and he still has yet to see the property and he's bought two more since he's been on deployment from having the right team and strategy and place