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Out of State Multi-Family Investing
Hi all! I am currently looking to purchase a small multi-family property and was thinking of purchasing out of state in order to have a lower entry point regarding my down payment amount and purchase price. My goal is to enter a cheaper market that has strong cash flow. I am looking for any advice on the process you followed purchasing a property out of state:
Did you visit the property prior to purchase, or use another source to view the property for you?
How were you able to find a strong property manager in that area and what qualities did you look for in choosing the right manager?
What obstacles did you face in finding and closing on the deal?
Thanks!