Updated about 10 years ago on . Most recent reply
Out of State investing
Just trying to get some advice on how anyone has started out doing some out of state investing. I am moving soon but still want to continue investing in my home town. I know this area so it won't be unfamiliar territory. I will try to assemble a team as far as contractors and lenders. I haven't used a hard money/ private money lender before but that may be a route that I'll pursue. I'm worried if they'll give me trouble since I won't live in the area anymore. I am also worried about contractors meeting my expectations since I won't be around. It is only a 3.5 - 4 hour drive so I can possibly check in on some weekends. I've heard of some banks willing to lend for repairs as well as 80% of the home. I was also considering using the BRRRR strategy for my rentals. A lot of concerns just looking for advice.