Who is the most important connection when investing out of state?

Question

You just picked a new market to invest in. Who is the first person you call in that market to get started? Why?

Brandon Goldsmith · Answer

It really depends on the route you are going to take. Agents and Lenders are typically a little more available than a good PM or Contractor. If you plan on doing a lot of value-added projects. Finding a decent contractor might be one you want to spend more time on in the start since it could take longer to find. @John Williams

Austin McClain · Answer

Your property manager is huge. Talk to agents in your area that sell a lot of investment properties. They tend to have worked with a lot of PM's in the area and can help you weed out the good and bad options.

JD Martin · Answer

My lender/financier. Because if I can't get funded in that market the rest of it won't matter.

Richard Schubert · Answer

A  visit to the area, boots on the ground of a similar mindset, , property manager, realtor, contractors. In that order if it was me shopping for a new market.

Adam Bartomeo · Answer

There isn't 1 first person, there are multiple that you should be contacting. Real estate investing is a team sport and at different points in the game different players will play more important roles. Your PM will be the most important player in the game but not until the second quarter or second half. Reaching out to multiple brokers in the area and building relationships with them will probably be the most important piece. Lenders should be the next call.

Andre Brock · Answer

If you plan on buying and holding in say a great pm company.

Michael Smythe · Answer

@John Williams who will you have the longest relationship with?

An agent, lender, inspector or contractor that is transaction based?

Or a PMC that will manage your property until you sell it?

Caleb Brown · Answer

I think it greatly depends on your strategy. You can't go wrong anyway but you want to have some sort of boots on the ground to get you started and understanding the area. From there you need to contact vendors that will be needed for you(GC, PM, Lenders, etc).

Who is the most important connection when investing out of state?

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