Out of State Investing

[Jorge Ruiz]

Alright BP I am taking steps to finally putting my money where my mouth is. If any of you that have done out of state investing can help me I would greatly appreciate it. I would like to know how you found your team- real estate agents, wholesalers, contractors and property managers. What questions did you ask them? Why did you hire them? Why didn't you hire them? And perhaps why did you fire them?

Thanks BP and I look forward to your answers!

Best,

Jorge

[Michael Wentzel]

@Jorge Ruiz

Those are a lot of questions. Have you picked your market? Do you have your strategy? Buy and hold? Fix and flip? Single family? Multi family? Etc.

Assuming you have these questions answered, I would start networking on BP. Then I would go out and spend a week in the market you are entering. Interview a bunch of Realtors and a bunch of Property Managers if possible. Drive the market. Look at properties. Attend a REIA if possible.

I'm investing from distance in my second market now and I am realizing that building that team on the ground is going to take time. But if you follow the advice above, you'll be miles ahead of most out-of-state investors.

Mike