Long Distance /Out of State investing

[Jingmin Ye]

Hello, I live in New York City and have been reading/learning about long distance and out of state investing. Currently no portfolio except for my primary residence.

In the past two months, I have been building the foundation of learning; I have read David Greene’s Long Distance Investing, and Brandon Turner’s Rental Property Investment. Now I would love to connect and learn about YOUR experience as fellow real estate enthusiasts who happen to live in high cost areas, choose the route of out of state investing (especially the buy-and-hold strategy). I have some specific questions, but any insights would be greatly appreciated.

1- Location: how do you determine the location(s) that you decided to invest in? Especially in the abundance of population, employment and price-to-rent data, how do you zoom in on the location(s) (other than through family or friends) that are the right combination of appreciation and cash flow?

2- Turnkey provider vs. do-it-yourself: did you start your journey with a turnkey provider OR did you start by choosing a location that is driving distance+locate deals+rehab+hire a PM to manage the day to day, and would you have done it differently?

3- What are the questions that you use to screen/align with the turnkey providers that they are the right partners?

Also if you happen to be in New York City, I would love to meet in person, buy you a coffee and listen to your stories.

Thank you!

J