Skip to content
×
Pro Members Get Full Access
Succeed in real estate investing with proven toolkits that have helped thousands of aspiring and existing investors achieve financial freedom.
$0 TODAY
$32.50/month, billed annually after your 7-day trial.
Cancel anytime
Find the right properties and ace your analysis
Market Finder with key investor metrics for all US markets, plus a list of recommended markets.
Deal Finder with investor-focused filters and notifications for new properties
Unlimited access to 9+ rental analysis calculators and rent estimator tools
Off-market deal finding software from Invelo ($638 value)
Supercharge your network
Pro profile badge
Pro exclusive community forums and threads
Build your landlord command center
All-in-one property management software from RentRedi ($240 value)
Portfolio monitoring and accounting from Stessa
Lawyer-approved lease agreement packages for all 50-states ($4,950 value) *annual subscribers only
Shortcut the learning curve
Live Q&A sessions with experts
Webinar replay archive
50% off investing courses ($290 value)
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

User Stats

86
Posts
11
Votes
Alfonso Velazquez
  • Rental Property Investor
  • Staten Island, NY
11
Votes |
86
Posts

renting from a distance

Alfonso Velazquez
  • Rental Property Investor
  • Staten Island, NY
Posted Jun 18 2015, 18:36

I know this is been asked many times and I'm sure my question or situation isn't new. but I'm looking for i guess some advice from some who has experienced this. 

I live in the 5 boros of new york so to say its expensive is an understatement. as a result i want to test sending out a mailer to some lower priced areas in PA about 2 hours outside of where i live. 

i sent out these mailers with the idea of buying and holding and just getting use to having conversations on the phone with prospective sellers.

i sent out 100 letters and received 4 calls. Out of the 4, 2 were highly motivated and 1 was was ready to do seller financing.

at this point i choked, i had the conversation and got him to confirm that he is opened to seller financing. 

I never visited that area but know and visited near that area, i know that the area is a moderate to high crime area. and i also know that for that area they do maintain consistent blue collar/factory type jobs. 

so as a rental area i think from what i have learned thus far, is that this is a good rental area barring the crime. 

where i choked was the distance, and started thinking how will i maintain it from a distance.

my questions i guess would be. 

those who have experienced similar situations what did you do?

also is it feasible to have a management company manage just one piece of property as i try and grow a portfolio?

thanks as always guys for your input 

Loading replies...