Multi family investing out of state

[Daniel Castellano]

Hi all,

I am new to the real estate game in the US, I am from Australia and have experience in investing back home and am trying to learn as much as I can about real estate investing within the US as i live and work here now. I am looking to invest in a multi family property (such as a quad), I have quite a bit of savings ready to go but my main issue is I live and work in a very isolated part of North Dakota which makes it very difficult for me to scope out potential neighbourhoods and out of state areas which might be suitable. Any advice or tips on effective ways to effectively invest in this situation would be greatly appreciated :) 

[Chris Tracy]

@Landon Eskew... I hear you.  That is the challenge with buying larger deals is everybody and their brother wants one, so the game is quite competitive; However, you only need one big deal and it would be a complete game changer!

My advice for finding deals- start calling brokers that have the deals.  Get to know them.  Take them out to lunch, etc.  Get them to send you deals.  Analyze what they send you.  Follow-up with them and give them feedback.  

Your goal is to build a relationship with a handful of brokers... Get to know them well, so they inform you of off market deals.

I've tried services like Prospect Now, which can be a little pricey, but you can get contact info of owners directly.

It may take you 1-2 years for you to grind it out and get into a bigger deal... but isn't it worth it?

Then, you can scale your business, which is more difficult with smaller deals, which goes back to what we were talking about before.

If you need any help... Feel free to reach out!