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Updated over 3 years ago,
How to Invest Long Distance?
Hello everyone,
I'm looking to jump in and grab my first rental within a couple of months when I'm done with school. My goal is to get myself in a situation where I can manage (on a macro level) all of my properties from a different part of the world. I want to move out of the country in about 4 years to support my partner in her medical career. So, I figured the best way to get started would be to start with out of state investments to force myself to learn how to not be near my properties.
Is it as "simple" as hiring property management companies in the cities you buy in and have them handle finding tenants, repairs, rent, etc.? One big question I can't seem to answer for myself is who picks up the keys after you purchase the home from 3 states away? I hear people on the BP Podcast all the time talk about how they have properties in other states and it just seems like flying around to pick up keys at closing would be a huge time and investment suck.
Is there anyone out there that mainly invests in a different part of the country (or world) that is willing to share some tips?
Thank you.