Out of state investing - Advice needed.

[Beau Fields]

I'm looking for advice from experienced investors who own and manage single-family rentals in states where they don't live.

I currently live in Washington State and am considering purchasing rental properties in Alabama. The numbers look attractive, but I want to better understand the realities of owning property that is thousands of miles away.

A few questions for those who have successfully done this:

• Do you self-manage or use a property management company?
• If you use a property manager, what do they charge (percentage of rent, leasing fees, maintenance markups, etc.)?
• How do you handle repairs, turnovers, and emergencies?
• What systems or software have been most helpful?
• How often do you visit your properties?
• What mistakes did you make early on that you'd avoid today?
• Has long-distance investing been worth it for you financially and personally?

I'd also appreciate recommendations for reputable property management companies, especially if anyone has experience investing in Alabama.

My goal is to build a portfolio of cash-flowing SFRs, but I want to understand the operational side before pulling the trigger on my first out-of-state purchase.

Thanks in advance for sharing your experience and lessons learned.

[Samuel Diouf]

As of now, about 90% of my clients are OOS.

I would focus on growing relationships and building your core 4. Having a team in place is essential to long-distance investing. The core 4 consists of a realtor, contractor, property manager, and a lender. Once you have this team in place, you should have the foundation to invest in any market confidently while not being there physically.

Starting with a skilled agent should be your main focus, as they'll be able to connect you with every contact you need.