Buying your First Property Out of State/Province

[Emily Flood]

I am looking to get my first rental property within a year. As of right now, I live at home and my only recurring bill is my cell phone. I live in Vancouver BC so it’s a pretty high market – I could potentially house hack but I would have to get a car, deal with water and heat bills etc. I don’t think it makes much sense to increase my personal bills when I don’t have to. I am very lucky :) 

This is why I’m looking at buying on the East Coast. Obviously buying your first property is intimidating enough but having it on the other side of the country is something else. I know it’s possible I was just hoping to hear all your tips and tricks. Do I need a property manager? How do I find good deals/ and look at them when I can’t always be in the area? If I find a good deal but for whatever reason, I can’t personally go and look at the house (i.e. Covid) should I be wary of buying it? (I would get it inspected of course).

Any comments or suggestions are super helpful and I really appreciate your time :)