How to Investing Out of State

The is a little bit of nervousness when it comes to investing out of state and yes any investments going to be risky, but it is doable right now. So when do you take a look at properties because you want to put your eyes on these properties, but you can't take a look at every single property that comes across your desk, like you would with a single-family property in the next town over. 

These are multifamily properties in other states so what we do is either, number one, we definitely make sure that we know the area we're going into we know the sub markets, we've done our homework in this area and sometimes we'll go take a look at the area before we even have a property in mind just to get the feel of the lay of the land. We do have a property in Kentucky and we've been to Kentucky a bunch of times my sister-in-law lives there we, have friends that live there, we have boots on the ground that can tell us what's up with the area, and we do have a team now in that area that they'll tell us the different things and the different nuances of each town, so that we can make an educated decision. 

Once we have a property of interest in Kentucky depending on the property, we will normally wait until after we make an offer and just to see if the offer will be accepted and to make sure that we're at least in the same line the same mindset as the owner to see if we are even in line with what they're wanted with what they're wanting . I mean say they want four million the really the property's only worth one point five, tests that's sort of a large spread and he might not come down and we're not going to go up so we wouldn't take a look at that property necessarily, so it's really on a case-by-case basis, but you do in the end want to put your eyes on the property, you just have to find out what the right time is for you to do. 

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