Specialist · Indianapolis, IN · Member since 2025 · 23 posts · 19 votes
Hey all,
I've got a growing desire to become an out-of-state investor. I'm based in Indiana and would love to eventually own a few MTR/STR properties in Florida.
Obviously, finding a trustworthy team—agent, contractor, property manager, etc.—is a major part of it. But for those of you already investing remotely, what are some of the other challenges I should be thinking about?
Ethan - congrats, I think you're asking the right questions. Putting together a team and building relationships is the main priority IMO. The challenges will come when you begin to make mistakes and learn from them, but surrounding yourself with folks who want you to succeed will set you up as good as you possibly can be. I lend on STRs all day, so feel free to give me a shout! Good luck my man!
Local regulations is a big one, especially for STRs in Florida. Rules can vary by city and they change often. Your options are either doing really thorough research to stay up to date or, even better, talking to someone local who knows the area and laws well. It can save you a lot of headaches down the line.