Pros/cons buying investment real estate out of town

[Randon B.]

I live Austin Texas and its a sellers market here right now. Most everything is bought cash and above the asking price. I would like to look to other markets to invest in Texas. I'm just wondering what are my limitations?

I understand that I would need to out source for property management or repairs for property with tenants. But are there any other pros/cons to a strategy like this?

[Jarrod Weaver]

@Joe Butcher and @Jeff Clawson are right on the money. You don't have to get very far outside of Austin before the deals make sense. Yesterday we went under contract on a REO 4-plex that will deliver nearly 30% CCR. You just have to be continually looking and ready to go when you find something.