Advice on where to Invest out of State

[Rob Bianco]

I'm looking for a reliable turn key provider to be my boots on the ground. I haven't really decided where, but I was originally looking in Ohio and Kansas City. In the end, I think I'm just looking for good people and that will ultimately convince me on where to invest. 

After combing through various Turn Keys is it normal that many of them look/sound like scam artists? Does anyone have a solid referral? I'm really looking to build a multi-family portfolio for strong cash flow. If the area doesn't really have multi-family  it's not the end of the world, so long as the people are worth investing in. I would do it myself to rehab and hunt for deals and one day I hope to, but I work 70 hours a week and I barely have time to do much away from the computer. 

[James Wise]

Originally posted by @Rob Bianco:

I'm looking for a reliable turn key provider to be my boots on the ground. I haven't really decided where, but I was originally looking in Ohio and Kansas City. In the end, I think I'm just looking for good people and that will ultimately convince me on where to invest. 

After combing through various Turn Keys is it normal that many of them look/sound like scam artists? Does anyone have a solid referral? I'm really looking to build a multi-family portfolio for strong cash flow. If the area doesn't really have multi-family  it's not the end of the world, so long as the people are worth investing in. I would do it myself to rehab and hunt for deals and one day I hope to, but I work 70 hours a week and I barely have time to do much away from the computer. 

 If you are buying out of state you can ensure you don't ever get scammed by doing the following.

• Always hire a 3rd party inspector to check out the house.
• Get an appraisal. If you are buying with a loan (You should be. OPM is the #1 reason you should invest in rental real estate) the bank will force you to get one. They are not going to let you loose their money.
• Make sure you use a reputable title company.
• Understand the higher the cap rate the higher the risk.
• Make sure your property manager is a licensed real estate brokerage.