How To Go About Buying Property Out Of State While Never Having To Go There?

Question

Looking to buy out of state how do I know where to go?

Chris Seveney · Answer

Not visiting a property is one of the easiest if not the easiest way to lose your shirt in real estate. People will go to the store to try on a pair of shoes for $100 but not go visit an investment of $100,000.

Michael Smythe · Answer

The two biggest mistakes OOS investors make:

1) Trusting the wrong people blindly

2) Confusing Class A, B, C & D properties and their pros & cons.

Travis Biziorek · Answer

If you can invest in your back yard, or close, and still hit your goals... do it.

Sometimes that's not an option. For example, for me here in California it would not work even if I opened my radius to 6+ hours away.

In that case, you need a team where you plan to invest. You can build your own from scratch (I did this in Detroit) and you can expect to visit, meet folks, make mistakes, get better, make more mistakes, and then hopefully figure it out.

That's what I did. I moved to the Detroit area and built my team over a few years. And it was still hard!

The other option is to plug yourself into an existing team. That still requires a fair bit of research and due diligence.

Nicholas L. · Answer

@Alex Clark

don't - pick a market 1-4 hours from you and spend some time there in person

How To Go About Buying Property Out Of State While Never Having To Go There?

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