How can I get over my fear of out-of-state investing?
Hello BP,
I'm going to buy my first out-of-state rental property (MFR), since the numbers don't make sense for where I live (Los Angeles).
However, I'm so afraid that I am going to be scammed and lose all my money, that I'm afraid to pull the trigger on a deal.
I have this irrational fear that I could buy something from someone who doesn't even own the property, or some buyer/seller agent are both scamming me, or that I buy a "lemon" that isn't even really a cash-flow positive property.
I've met some agents online and through BP, but why on Earth would they want to offer ME a good rental property? Aren't there others just lined up to buy it? Or why not sell to their own company? Am I crazy or did I just win the "rental" lottery?
I'm definitely new to out-of-state RE investing, so if anyone has any tips/checklists of things I need to do to verify an agent/deal, please let me know. It might just give me the confidence I need to buy :)