All Forum Posts by: Janelle Groenhout

Congratulations on your decision to invest out of state @Rob Shah

This is what my husband and I did this past year when we purchased out of state without using a Turnkey provider;

1) Identify a market or maybe two to start looking in

2) If financing then get said financing established so you know your budget

3) Contact a Realtor- My husband literally googled Realtors in the area we were looking to purchase in and called the top recommended one online, he was amazing. We told ourselves if the Realtor at any time gave us grief or less then expected customer services we would drop him and move to the next on the list

4) Have Realtor create you an online search with your criteria and start looking at properties online

5) Ask for recommendations for Property Managers from your Realtor and start having phone or Facetime meetings to find who will suit you best. Along with research them online and review all documentation they give you and their website offers

6) Once you have a nice handful of potential listings that match your criteria either make a trip out to the area to view them in person or do what husband and I did and have Realtor do a video walk through of the properties and send to you to review

7) Make an offer on the best property

8) Close on said property- Can sign all closing documents from where you live

9) Realtor drops keys off with Property Manager and they take it from there 

My husband and I have one out of state rental home so far and plan to purchase another in the next year (in the same market). We currently live in an oil boom town and it just isn't feasible to invest where we live. I second that having a great Property Manager is the most important. If you have any questions about how we started our out of state investing journey please let me know.  

@Amy H.

I use this planner

https://www.amazon.com/gp/product/B01N2750OM/ref=oh_aui_detailpage_o05_s00?ie=UTF8&psc=1 and I love it. It has the normal monthly pages and daily pages along with a Goal page and tear out Grocery and To Do list sheets, which is very helpful. There is a band to keep it shut and a front pocket to slide small things in which is a handy place to keep items until you get home. I also keep a blank Thank You Card and some stamps in the pocket so I have one handy when I want to send a thank you card out last minute.

I do not work for Amazon or receive any commission from sales.

@David Beadles Before my husband and I bought in Missouri we looked for 6 months in Las Vegas due to family ties and our love for the city but didn't find what we were looking for. During the searching process we were in contact with Danielle Gallant at Guardian Realty as a property manager for once we purchased a place and were blow away with her customer service. She gave us a lot of feedback about properties we were looking at and it helped us to know her opinion on a property as a property manager before we purchased something.

Thanks @Gary Nelson!

Thanks @Gary Nelson, we have been very pleased with our investment so far and feel like we have a great team set up to manage it. We were blown away with the level of customer service we have received from everyone we have contacted, coming from a boom town where we feel there is no customer service anywhere it was a pleasant surprise. Hoping to make a trip there this year since neither my husband or I have stepped foot in the state of Missouri.

@Christopher Hunter No my husband and I don't invest here in the Williston market, we live here and own a home here but invest in a different market and will continue to invest elsewhere. We are open to renting out our home here when we move away in a number of years but will depend on what the market is doing.

My husband and I have bare land in Sandpoint which is where we were born and raised... just living in North Dakota right now for the oil industry, plan to move back in a few years and build on the land. Glad you did your research though and feel confident with your decision, can be small town drama but the lake and mountains will always have my heart. @William Lunsford

Any update on a REI group in Williston?

I see this is an old thread but @William Lunsford did you end up buying land in Northern Idaho?