Long Distance Real Estate Investing

[William Patsalis]

Hello All!

I'm a real estate agent in Metro Detroit and I am trying to get a better feel for long-distance real estate investors. I personally believe Metro Detroit is one of the best areas for long-distance investors because you typically get B-class tenants at affordable housing prices. I am looking to connect with more out-of-state investors to learn more about what they are looking for. Metro Detroit combines city living with aspects of the country lifestyle. If you are looking for a rental in a city that is young, growing, and trendy we have that in cities like Royal Oak, Ferndale, and Birmingham. If you are looking for business districts we have that as well in cities like Troy. Or, if you are looking for more quiet cities that provide cashflow we have those as well in cities like Clawson, Madison Heights, and Oak Park.

In general, what are some rules of thumb that you look for when investing out of state? Examples: CoC returns? Monthly revenue? Purchase Price? Etc. I would like to learn more about what investors are currently looking for as the market is constantly changing.