Advice on out-of-state CRE investment

[Peter Goran]

Hi,

We are considering investing in a commercial property out-of-state. Given that we are not connected in the area, access to good contractors (in case they are needed) and to good market intelligence are a couple of concerns that we have about the investment. I am wondering if anyone in the community has any advice on the following:

1) how to find and work with good and reliable contractors out-of-state.

2) how to get a good understanding of the local market. Which market intelligence platform do you think is best for someone that is out-of-state?

3) Do you think investing out-of-state is a good idea? Are there other potential concerns that you foresee arising and do you have recommendations on how to mitigate them?

Thanks and wishing a good day to everyone!