First time out of state investor, looking in the Alabama market

[Kyle Collins]

Good evening everybody, I would like to begin investing out of state specifically in the Alabama area. I have $100k in cash to utilize to buy a long term rental property. I am more concerned with not being able to rent the property out, compared to the buying process. Any and all advice would be greatly appreciated, I am based out of Miami, FL. 

[Jay Hurst]

Quote from @Kyle Collins:

Quote from @Nicholas L.:

@Kyle Collins

hello. are you able and willing to travel to AL to build a network, look at properties, and get a team set up?  if you are, great.  if not, i'd stay local.  the market is unforgiving right now, and if you buy a random property by looking on Zillow and turn it over to people you don't know to manage, you'll lose money.

with respect to your specific question, if the property is safe, clean, and priced correctly, it will rent. but that doesn't mean you'll make money on it.

 Absolutely! Im currently in the process of building the team and I'm getting ready to make several trips to the area. Thank you for the advice its greatly appreciated! 

This is VERY important. There are "turn key section 8" operators in Alabama that market to do all of the due diligence for you and you never even have to see the properties! What a deal! Until you spend 20k on paint and some new kitchen appliances, but the roof and foundation are still shot and the 100k ARV is more like 70k in reality. If you are not willing to travel to place and understand the market you are investing you should not be investing there just because it is cheaper then your local market. Sounds like you are so it can work.