How To Invest Out Of State While Working Full Time

Question

HI. I am interested on finding out how its possible to invest in property in another state while working full time.  I wont be able to afford property where I live but I can afford to buy in other states. Any suggestions?

David Faulkner · Answer

If you can't afford property where you live, first and foremost order of business would be to either figure out how to afford it or develop a plan for when/where/how to move, as it will only be a matter of time before you are priced out of the area entirely. This matter should take priority over investing in out of state RE as an absentee owner IMHO.

Treasa Manigault · Answer

Sorry for the late reply but thanks for all your comments.

Account Closed · Answer

I work with clients that are out of state and country to buy properties here in Florida. I am an investor/wholesaler and I find properties for investors. You also need to have access, which I do, to repair crews to fix up the property. Then a company to either sell the property or rent it. That's how you can buy properties all over the country you don't live in.

Steve Haight · Answer

@Treasa Manigault

The big trend for lots of investors that not only invest out of state but invest in U.S. from other countries like turn key properties with management in place. All as they want to do is collect the check. There are turn key properties all over B/P I am sure and am sure there would be a podcast about the subject. Good luck and welcome to B/P.

Steve Haight · Answer

@Treasa Manigault

The big trend for lots of investors that not only invest out of state but invest in U.S. from other countries like turn key properties with management in place. All as they want to do is collect the check. There are turn key properties all over B/P I am sure and am sure there would be a podcast about the subject. Good luck and welcome to B/P.

Richard Copeland · Answer

Treasa:  What are you looking to purchase: property type, price point, etc.?  It's not difficult to purchase and own property in other states than the one you live.  It's a very common practice.

Karen Schimpf · Answer

@Treasa Manigault you will have to get a property manager in the area. The realtor typically has a list of property managers in the area but I am sure you can also Google the area. Once you purchase the property,  my recommendation is to manage your property manager to make sure your property is fully rented.

Kaz M. · Answer

Hi Treasa,

Are there any areas that is driving distance that you afford? Look on the map and see where you go within 2hrs of drive. I would feel more comfortable knowing that I can just jump in my car and go if needed. Just my thought.

How To Invest Out Of State While Working Full Time

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