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Updated over 5 years ago on . Most recent reply

User Stats

23
Posts
17
Votes
Tadeh Vartanian
  • Flipper/Rehabber
  • Los Angeles, CA
17
Votes |
23
Posts

Which team member to get FIRST for out of state investing

Tadeh Vartanian
  • Flipper/Rehabber
  • Los Angeles, CA
Posted

Hey,

Long time follower of BP, first time posting. 

I live in Southern California and am interested in investing out of state. The numbers locally just don't make much sense for what my goals are (strong cash flow top priority, appreciation second). Among the core members of the team (agent, lender, CPA, attorney, etc.), which should I reach out to first?

Also, which one(s) can work outside the state where the property is at? In other words, would a CPA or attorney be best located in said state or can they be located near me in So Cal?

Most Popular Reply

User Stats

452
Posts
672
Votes
Scott Passman
  • Rental Property Investor
  • Batavia, IL
672
Votes |
452
Posts
Scott Passman
  • Rental Property Investor
  • Batavia, IL
Replied

@Tadeh Vartanian Don't forget about locating a great property manager for your team.  They can either make or break your investment and they have a tremendous amount of knowledge about the market, inventory, rent ranges, what tenants are looking for, where the desirable neighborhoods are etc.  A great investor friendly agent is very helpful with some of this too, but I've found more success working with property managers to acquire much of this information and the good ones have been very willing to scope out properties, take videos for me, and give me feedback.  If you will be using that PM to manage the property, they are incentivized to find a good property that will attract solid tenants because they will be the ones managing it down the road. 

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