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Updated over 5 years ago,

Account Closed
  • Rental Property Investor
  • Torrance, CA
1,208
Votes |
724
Posts

The most difficult obstacle when investing out of state

Account Closed
  • Rental Property Investor
  • Torrance, CA
Posted

I hear others talk about finding deals as thier biggest hurdle when investing OOS. I actually see properties that will cashflow and have meat on the bone all the time. For me biggest challenge has been something else. The problem I have is speed. 

I’ve gotten pretty good at spotting a good deal just by using online tools. Use Zillow and Realtor.com to see actual comps in the area, and then check Rentometer and active listings on Zillow to gauge the rent potential. This is just quick and dirty analysis to determine wether or not to look deeper. 

The issue is when I see a property that checks all the boxes. It always sells in a matter of days, if not hours. My agent is actually really good. I’ll send him a property and he’ll be out there the same day, or at most the next day. But that’s just not fast enough sometimes. Some of the properties I’ve been interested in listed at 8 A.M. and we’re pending by noon. 

This isn't something I've seen others talk about too much when it comes to trying to BRRRR out of state. I just have to stay persistent.

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