Flipping out of state

[Jake Goodwin]

Hi all,

I am considering flipping out of state.  I moved to Colorado from Texas before I started learning about real estate and acquiring the skills I think will make this feasible.

I have a good relationship with an excellent contractor who has been working on flips in the area I'm researching.  I'm experienced at raising capital and working with investors and am detail-oriented enough to put systems in place for this.  

I will be able to travel on weekends to visit the property and oversee progress to a degree.

Is this something that people are doing?  I'm not pursuing this in Denver because the cost to play is much higher and I feel confident being able to raise the capital necessary to do this in a cheaper market.  Thanks in advance for your input!

[Alora Glaze]

Investing out of state is a great opportunity to get your dollars to stretch further. Many OOS investing require a boots-on-the-ground team in order to keep their projects protected both fiscally and physically. So, if you've got that connection with a GC then you're well on your way to get started. I would ensure, however, that you have a copy of their license and insurance for safeguarding your interests. Vet some property management teams also - you may be able to find a connection to add to that team to ensure timelines are being met - even adding a REI realtor to ensure you're crunching the numbers and getting the best deals with the most accurate ARVs will be crucial too. A few more pieces before you get started - but it is feasible! Just do your research and networking to make the most educated decisions.

Best of luck to you!!