Buying investment properties outside of your area/state

[Jeremy Goebel]

Hey BP Forum! I wanted to get some perspective on how difficult it is to invest and manage properties that are not in your immediate area. What are the challenges you face and have people found success in this?

[Jenna Stark]

I am sure there are plenty of people who will jump in and add some value for you.  The best thing i did to get over this stress of investing out of state was read long distance real estate investing by David Greene.  It does a great job of explaining the difficulties but also the benefits.  Having a strong team in the market you are investing is important to your success. It definitely takes a little longer to try and get comfortable with the feel of a market in my experience than simply knowing your city you live in.  Once i finally zoned in on where i wanted to be and stayed focused on that area it got a lot easier. Then i could put all my research into that one area instead of being all over the place trying to chase one good deal or another.  Managing a rehab can be difficult near or far, this is something I am still practicing as I get more reps. Good Luck!