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Updated about 5 years ago on . Most recent reply

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Shanelle Hite
  • California, CA
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Finding the right realtor

Shanelle Hite
  • California, CA
Posted

What steps to take when making 1st purchase as an out of state investor?

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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
Replied

I do not agree that finding the highest volume sales agent on Zillow will help you when investing OOS. It probably won't help you at all. They may know the area well and have done the most deals, but they also are unlikely to understand the psychology of the OOS investor. Also, they will be the busiest agents with the least time for you, one deal from OOS. They will transfer you to their team which may or may not be a good thing. You want to scour that market to see who is listing flipped properties and who says in their bio that they work primarily with investors.

But backing up, why are you buying out of state and do you have any contacts in your target area at all? Have you been there? If you are planning to buy OOS with only internet relationships, it can go sour real quickly if you don't vet the pieces of the puzzle well.

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