What's your Process when Deal hunting out of state ?

[Patricia Becker]

Just looking to compare my process to others to see if anyone else is as Lame or Awesome as me....lol. And see if there are any tips and tricks when looking for out-of-state investments. 

So here is my process. 

1- Open Zillow/ redfin or whatever, and type in a price range, 

2 - Scan the states (sunbelt only for me) that have findings and pick the Citys that have properties meeting my criteria. 

3- Check out the city on citydata.com (population trends, where they are at with state / Fed averages, etc... )

4- If I like city-data then I will search and open the city's CFAR (Comprehensive Financial annual report) and see how they are doing with debt, reinvesting in the city, upcoming projects.. yada yada. 

5- Once I got my city I will call 4-5 realtors and interview them (looking for ones that know how to "lift a skirt" of a home when looking at it, and can send video or photos)

6- Call 3-4 PM companies and interview them, talk a bit about the market (rents/areas) and get some free info while interviewing them. it can be a lot of pre-work just to decide to dig in but I think it is worth it. 

7- Remind myself to not overanalyze and stay away from Analysis paralysis.

That's it that is my process... just interested in what anyone else's is, I feel I am too haphazard, I don't really crunch numbers, i just make sure the rent can cash flow (500 or more, pending funding terms)