Investing in another state

[Isaiah Sullivan]

I’d appreciate any thoughts or experiences people have on investing in another state. I live and work full-time in New York. However, I’d prefer to invest in property in my hometown of Georgia. Distance is my main concern. While I visit Georgia frequently, I don’t have benefit of being able to constantly check properties in Georgia neighborhoods because I live in New York. What advice do you have for investors looking to invest in markets they don’t live in? How much harder is it?

Thank you!

[Steven Segal]

All good comments above. It is about having the right team in that area. I live in Florida and invest a lot in Milwaukee. My biggest issue I had was with property management. My first PM was awful. My new PM is helping me find properties and then allocate part of his commish to PM - good deal for both of us. When it comes down to it, nobody cares about your money like you. This leads me to another idea: one thing I am doing is getting a partner in that area. We each bring different things to the table, and I know I have somebody who has their money on the line watching my investment. Tough, but doable. Good luck! 

Steven