Trusting "deals" as out of state investor

[Scott Passman]

As a new investor looking to invest out of state, I'm finding it very difficult to know when a deal is actually a deal. I have spent a lot of time tracking the MLS, Zillow, redfin etc. and reading up on the varying neighborhoods (Indianapolis and Grand Rapids) to get a good feel for where to look. However, when networking and connecting with other investors I get varying information leaving me uncertain to know who I should and shouldn't listen to. There have been quite a few properties that looked like good deals only to find that for some intangible reason it likely wouldn't be a good investment. I have been given what I believe to be some good information but again, it is so hard to sift through all the variables, varying thoughts from other investors, and stay on top of watching all the inventory. I'm finding the more I dive into the market the more places it leads me and thus creates even more confusion. Any advice on how to hone in on what I need to focus on to land my first out of state rental property? I don't need to land the greatest deal ever, I just want to find a solid deal to get my feet wet, generate some cash flow, and most importantly start learning by doing. Thanks.

[Mike D'Arrigo]

@Scott Passman Only you can say whether it's a good deal for you or not. What's a good deal for one person may not be for another. In order to build confidence in your ability to evaluate opportunities, you need to very clearly identify your criteria and ROI objectives. I think a lot of people spin their wheels looking for some imaginary deal without really defining what a deal is to them. If the property itself meets your criteria and the numbers achieve your ROI goals, them in my opinion, it's a deal.