Should I invest out of state?

[EJ Hyman]

Hello, I recently was brought into the world of Real Estate investing by a good friend of mind.  He is mentoring me, and wants to partner up on deals.  However, he lives in a different state than I do.  Is it dumb to invest out of state, even when you have someone who is in the area where you are investing?  I am just nervous that I don't know the market and that will come back to haunt me.

[Ritch Bonisa]

EJ, Definitely check into your own market.  If you live in the Chicago area, you could consider Norther Indiana or even Indianapolis, which is a great rental market.  Before you actually pull the trigger, it's good to build a team.  The farther you are away from your investment property - the more important it is to have key contacts and good relationships.  Good boots on the ground are vital.  

I've had a lot of experience with this.  Feel free to reach out to me if you have any questions.