newbie. where to start when you live far from the action. rural

[Jesse Lawrence]

I live in a remote area that is in a energy BOOM (super high real estate prices)

Thus i am looking elsewhere to start in my investing. (phoenix etc.) is it prudent to buy real estate in a place where i don't live nearby? In other words, can you make good investments from afar in an unfamiliar area? Or must you somehow learn the area first?

by the way i work full-time and have a wife and 4 young kids. some money in the bank with which to start...

[Michael Kevorkian]

@Jesse Lawrence it's 100% possible, doable and attainable to break into a market or markets you don't live in. I work with investors from all over the country who do joint ventures with me on a regular basis. Two things you should consider are:

1. Setting up your power team in the market you want to start investing in ie. realtors, contractors, funding partners, attorneys etc.

2. Never take your eye off the ball. You have to be able to manage them all and make sure they are all doing their part.

Don't expect to toss someone the ball and have them run with it. Each person really needs to be held accountable for their role in the transaction and no one is going to manage your business for you (except a manager you may hire) and even then you have to manage them.

When everyone sees that you are always watching and pushing them to deliver it makes the process much easier and more manageable for you.

Let me know if you have any other questions, I'm happy to help if I can.