Out of State Investing

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Out of State Investing

Account Closed
Contractor · Los Angeles, CA · Member since 2015 · 887 posts · 323 votes

Hello BP! 

I am beginning to consider out of state investing due to the capital that I have available. Was looking for help in this area. If any of you would be kind enough to offer advice as to how you accomplish this I would greatly appreciate it. I am thinking I would need real estate agents, contractors, and/or wholesalers to partner with in order to get this done. I am also wanting to know how you screen these people and any others I may need on my team to get this done. Once again I would appreciate any help I can get. Feel free to send me a colleague request with you contact info because I am sure this would be something to discuss over the phone and/or in person and not via text or email. Once again I would greatly appreciate any help you any of you would be able to give me.

Best Regards,

Jorge 

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Account Closed
San Jose, CA · Member since 2015 · 4k+ posts · 3k+ votes
10y

First, California is a big state.  There may be no need to look outside of CA.  And second, you need to first figure out what you want to do, specifically, before you know who can help you accomplish it.

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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    10y

    if you don't have proper licence in a dispute. Other side will use that fact to your disadvantage.  Yes many don't know the rules. !!!   Good luck with your projects.  Oregonians as you know are nice.  But I can tell you ore regulators are very tough and by the book.  No defense. For ignorance lol

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    1Reply
  • Account Closed
    OP
    Contractor · Los Angeles, CA · Member since 2015 · 887 posts · 323 votes
    10y

    @Jennifer Slaughter If you don't mind me asking what does your attorney charge you to look over those documents? Just want to get an idea. Thank you.

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  • Isaac Taylor
    Investor · Detroit, MI · Member since 2008 · 66 posts · 11 votes
    10y

    Jorge,

    I think the most important part of the team would be finding a great property manager, which isn't easy to find.  Given the additional challenges of investing out of state, I think you would also want to make sure that you are targeting markets that are significantly more attractive than your home market.  I just posted a blog this weekend with a list of top rental investing markets (buy and hold) under $75k.  

    Top Rental Markets Under $75k

    Isaac

    1Reply
  • Jennifer Slaughter
    Real Estate Agent · Fort Collins, CO · Member since 2016 · 246 posts · 142 votes
    9y

    @Account Closed, sorry I didn't see this sooner but just to review a doc is about $100, the cost of peace of mind. 

    1Reply
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