out of state / non local investments - curious

[Lewis Christman]

It seems to me that many people are comfortable with long distance investing.  What made you make the leap to long distance? What was your first area you invested in and why (the why is what I want to know)?  How did you evaluate the area?

[Caleb Heimsoth]

@Lewis Christman that’s sort of correct.  I chose areas based on the economics, the price to entry and my long term goals, as well as the people I’d be working with.

Your team is important if you’re out of state.  So far I’m happy with the people I work with.  Some people may argue this next point, but to an extent I think a great PM is almost more importsnt than the deal.

Think about it, would you rather have a great deal (for buy and hold) and a bad PM or a mediocre deal with a great PM.  Long term likely they’ll either be the same or the mediocre deal and great PM will be bettrr