Long distance investing

[Alex Balan]

For those of you that own investment properties "far from home", what criteria do you use when looking for locations? Do you hire a management company/companies to handle the properties? I live in SW Florida and, while there are affordable properties just north of where I live, I just don't know if there is a large enough rental population in order to get the "best bang for my buck". If I am wrong, please let me know! Thank you in advance. Alex

[Account Closed]

Hello @Alex Balan

When is comes to investing in areas that our out of reach, I feel there are two crucial elements. If you don't have access to the MLS in that area I would suggest you consult with one that is familiar with the area and ask what the turnover rate is. Ask what the average time properties in that area are on the market.

Also, the right property manager in CRITICAL. The wrong PM can cost you more than you can imagine.