All Forum Posts by: Steve Kontos

@Jeffrey Sou

Hello fellow NYer. Yes our state is terrible when it comes to property laws. If you are considering investing out of state, please speak to those who have done it successfully and really understand how it works because it is a relationship driven business. I have been investing out of state for 15 years now and having someone familiar with the area, specifically pockets of growth opportunities helps out tremendously versus just choosing an area because it looks good on paper.

@Calvin Cheong

Those areas are not bad but the "cat's out of the bag" in terms of finding assets with true value add. If you do not have an in, it'll be hard. I recommend searching miles away from those areas into lesser known towns. When researching, I highly recommend also talking with successful out of state investors this way they can answer any specific questions you have because out of state investing is not black and white. It's a very relationship driven business when you invest out of state.

@Nicole Yarde

One main filter I used when I invest out of state is making sure it is a landlord friendly state. Having the law back up owners is an obvious major benefit, especially when growing an out of state portfolio. Once you have interest in a specific area, I would google and find realtors with experience. I would speak to several and discuss what it is you are looking for. 

@Katelyn Atcavage Robideaux

People who spend too much effort into timing the market often lose. My attitude is short and simple: everything around us is nothing more than noise. The people who create and sustain true wealth are those who stay focused on their business. It's still a great time to buy and there are still many great opportunities for us.

@Michael Figueroa

Welcome to BP and I understand the fear of going into something new. First off, you are never alone. You did the right thing by engaging with this great platform for advice and knowledge. The next step would be to attend various networking events. Getting out there and telling more people your general interest of investing will benefit you greatly. I would talk to investors who have successfully invested out of state and ask questions. This will allow you to have a better understanding of what is needed. Right now it's about better understanding what is needed to successfully invest out of state. I wish you best of luck and any specific questions you have, feel free to reach out!

@David Francis

This is a very common question nowadays but the answer remains the same...if you try to time the markets, you have already lost. There are always opportunities in ANY market. You need to continue networking and speak to those who are currently buying so you can best strategize from there.

@Ryan Cleary

https://fsbo.com/

https://www.forsalebyowner.com...

@Alexis Fentress

Congratulations Alexis! Now that you have dabbled into this great industry, keep on the lookout for more!

@Raghuram Janakiraman

In my experience, when the "cat is out of the bag" in terms of people knowing about a hot market, it's time to find the next area that is on the up and up. Austin is a hot market where you are competing with various other investors and prices are on a continuous rise. When you have a thread of people saying that you won't even cash flow then it's time to look elsewhere.

Best of luck!

@Kris Mayor

It is possible to get owner financing and there are web sites where the owners list properties directly BUT with rates so low and it being a seller's market in your area, it will be tough to come by. I highly recommend a more efficient way to invest would be to partner with someone. It'll help you grow and scale up your business as well.

Hope this helps and best of luck!