How to start REI out of state??

[Kelvin K.]

Hello,

I am a new investor looking to purchase my first rental property. I reside in California, but want to make a purchase in another state e.g. Texas, Utah, Colorado.

My concern is how to start?

Since this is my first property and I lack experience...

- Should I begin by looking for a realtor that works with investors for the chosen area?
- Or should I look at the so called "turn key" companies, that search for cashflowing, already rehabbed properties?

I don't really trust the "turn key" companies,as they may have their own motives.. or find you properties in non-appreciating / bad areas.

If I work with a realtor, I will most likely need to purchase a property with 70% ARV and that would mean that I need to look for a reliable contractor.

This might be too stressful for me as beginner, especially from a distance.

Not to mention the other issues of finding an appraiser, property mgt company etc. All of which make it hard to gather a good team from another state.

After I get a good team together, then I don't think I would fear the involvement so much.

Any experienced people out there that have advice about how I can get started with an out of state investment?