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Updated 8 months ago on . Most recent reply

Account Closed
  • DFW
27
Votes |
62
Posts

What is it like to be an out-of-state investor?

Account Closed
  • DFW
Posted

I recently moved to Texas from California and plan to move back to invest out of state. I am wondering if anyone has any advice, pros/cons, and tips on investing from out of state. How hard is it to network? How do you find deals? What is the purchase process like. Currently,  I use direct mailers, so I am curious to know what avenues other take. Other than that, i would plan on flying out to inspect properties. In terms of sellers, I plan on negotiating with them directly with no agents. If anyone has experience with doing private deals, please share your experience. Much appreciated! 

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Samuel Diouf
  • Real Estate Agent
  • Columbus & Cleveland, OH
1,504
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1,191
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Samuel Diouf
  • Real Estate Agent
  • Columbus & Cleveland, OH
Replied

I would not invest out-of-state without having a great team in place. I would recommend investing with in investment focused agent there are so many factors that you could mess up on when not using an agent and investing out-of-state. 

Read this article on the "core 4". It explains the team that you should develop to have a strong foundation under you while investing remotely.

https://www.biggerpockets.com/blog/core-four-real-estate-team

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