Any remote investors out there?

[Andre Crabb]

Hi friends,

Are any other investors out there "remote" and investing away from home? I'm going down this road and it'd be great to connect with others doing the same.

Cheers,

André

[Todd Dexheimer]

@Andre Crabb I have been investing out of state for a few years. I am fairly active still and make it out to the area at least 6 times/year, but I am buying distressed assets. I currently own a portfolio in state and then own a few hundred units out of state. The in-state stuff is easier to go see, but not really any easier to manage - actually harder in my case, because I tend to want to do things myself. The out of state properties are being handled more like a business because I am forced to do so. 

Here are some tips: 

Invest in larger properties - as large as you can or partner with others to get larger. My duplexes are the least profitable and most time consuming. My apartments are much easier and run much better. 

Buy in cities with job growth and that are as recession proof as possible - https://www.biggerpockets.com/blogs/10145/66160-ho...

Line up financing before running out and buying properties

Get your feet on the ground. Look at the neighborhoods, meet with brokers, property managers, lenders, etc and physically see properties. A lot can be done from the computer, but there is nothing like the face to face or boots on the ground

Form a strong team right away

If you don't want to or can't spend the time to do the about then don't invest out of state or invest in passive deals out of state.