Questions About Investing Out-Of-State insight appreciated :)

[Zack Tran]

Hi BiggerPockets family!

New member and first post.

Long story short, I currently live in NYC and would like to invest out-of-state given the challenges of investing here in the big city.

In no particular order I had a list of questions which upon searching the forums I couldn't find direct answers to so hopefully you awesome people can offer some insight.

Questions for out of state investors:

1. Do you offer on a property before seeing it in person? -  with such a fast paced and competitive market I feel like the deals worth pursing fly by in a few days. Obviously I don't have the flexibility to fly at a whim so I feel like most sales that are worth pursing has to be offered ASAP. Is there a window of time after your offer acceptance for you to see it?

2. Do you choose properties that require little to no work? If you do rehab, how do you do it remotely? - I can't imagine coordinating a general contractor remotely without being there myself day after day. It's such a large upfront cost considering flights, accommodations, etc.

3. Any other general insights you can give? - I think the biggest challenge for me is that my offer price comes out a lot lower vs. local investors because of the added calculated expenses of managing out-of-state so it makes it incredibly difficult to pursue a good deal.

Thanks everyone!

Best,

Zack