Buying local vs long distance

[Shawn H.]

Local properties seem easier to maintain, and less risky to own. It seems like such a large barrier to overcome to purchase properties, in better investor areas. Don't know the rental markets, property managers, etc. In my local market, rents do not generally justify the purchase prices, many of the houses are old(1896-1930's), older than I want to maintain. How does one increase their risk tolerance/trust in others and overcome fear to invest in more profitable areas?

[Dawn Anastasi]

@Shawn H.

1. Ask yourself, if I trusted the person I'm investing with out of state, would I still be able to sleep at night?  Would I worry?  If so, then stop right here.  Don't invest out of state.

2. Ask yourself, are you willing to put in the time and do the research in different markets?  Are you willing to make phone calls to other areas?  Are you willing to check references?  Are you willing to physically visit those markets?  If not, then maybe you shouldn't invest out of state.

3. Are you willing to build a team in an out of state market?  Are the people you contact making you feel like they're trying to upsell you or use high-pressure sales tactics?

There are many ways to get over the fear.  But if you feel that something isn't for you, it just isn't for you.  Life is meant to be lived happily, not worrying every day about your investments.