Investing in Hawaii

[Donna M.]

I'm a very new investor and being in Hawaii is very discouraging. The home prices here are $750k!! You can't buy a house in a "war zone" here for less than $225k. When I started, I went to so many open houses, passed out my card, put up my website, etc... And everyone said the same thing, "You're crazy to invest in real estate with the economy being so bad!" Even my mom! So, I started trying to find investment properties out of state and was amazed at what I could purchase with 100k. However, my location is becoming a problem. The only research I can do is from my computer and can't do my due diligence, thus I know I'm passing up on great deals. Since I'm just starting out, I don't have a lot of liquid funds. But I do have a whole lot of time. Is it too ambitious for me as a newbie to try out of state investing? :idea:

[Nick J.]

build a good team and you'll be ok.

I don't mind investing out of state as long as I have an agent that understands my style and a title company that knows what their doing.

consider joining a REI in an area that you want to invest in, even though your not local you can still pick up references to good vendors that you can quickly build a team.

case in point, I have a title agent out of state that understands what I do and she sends me leads knowing that I'll close with her, and an agent that allows the sellers to meet at his office to sign the papers and hands the keys over to him. I've never met these people face to face but it's a relationship thats been built with trust and performance. I do what I say I will do, and so shall you