Long distance rentals and research

[Justin Williams]

I’m interested in long distance rentals, what is the best way or ways to research other markets and is it a good idea to have your first rental property be long distance?

The markets that interest me are places like Phoenix AZ, Columbus OH, Dallas TX. For the most part I’m looking for single family rentals usually in the two to three bedroom range with one to two bath. I was also thinking about a rent by the room model. I know the core 4(realtor, contractor, property manager, lender) is a big part of David Greene’s strategy for long distance, but If anyone has any advice for a beginner it would be much appreciated.

[Ryan Deasy]

@Justin Williams I did long distance rent by the room for about 4 years. i invested in a town i knew well though. i did not pick a place that i did not know. i fully realize that is not possible for everyone. as far as the rent by the room model, i can certainly help you there. all of my rentals are RBTR. let me know how i can help you. 

i do not use a property manager but do have a team of people. that is the biggest thing. you need to develop your boots on the ground team since you literally cannot do anything. something the smallest issues (like changing light bulbs for example) end up being the most frustrating things to take care of. either way, you need to have a good team!