how to buy out-of-state multifamily properties?

[Garrette Becker]

Happy New Year BP members! I am looking for my first multifamily property but theres just one problem I'm running into. I can invest in my local markets due to the prices. Im living in San Diego California and plan to make my first investment within the next 3 to 4 months. I have researched a couple areas such as fort worth, Texas and Philadelphia, Pennsylvania. Im just wondering what i need to really be aware of when trying to buy out of state properties. Im super weary of doing this because its my first purchase and I feel as if I need to physically be there to get all the necessary steps taken care of such as inspections and meeting the owners to get a good understanding of what the properties are operating at. I just want to know if this is a good idea for my first purchase and what other people who have done this has run into so I can try to have a better first experience.

[Jeff Wallenius]

@Garrette Becker and @Blake La Grange the key to finding good property management for turnkey is having property management in house, meaning the turnkey provider performed the repairs, placed the tenant and then manages the property. If they do not do their own property management, it needs to be held very close otherwise a turnkey provider has no inventive to provide quality work and to place the best tenant they can. As far as turnkey multifamily, if at all possible try and seek a value add purchase as you can maximize your investment capital to its full extent. @Sean Tarpenning is a fantastic option in Kansas City. If your looking elsewhere, PM me, I'd be happy to assist.