Investing Outside Your Own Market

[Jeff Petsche]

Hello BP Community.

I will admit that I am a NEWBIE to the real estate investing game, and sometimes I fell I'm late to the party, but then I change my mindset and say it's never too late.

Quick Back Story:

I've been in real estate since 2003, but as a retail real estate Broker, so I'm not completely foreign to the investing game. I just have not yet purchased any investment properties. I tried back in 2004-2005, but due to some "marriage issues", my credit got jacked up and I was unable to get financing. At that time I was not really educated on other finance options, so I never pulled the trigger.

Currently I've been doing everything I can to gain more knowledge about RE investing options by reading books, listening to podcast, attending local investing groups, talking to other investors, etc.

This brings me to the current subject: "Investing Outside Your Own Market".

I've decided that my focus is going to be Buy-and-Hold SFR and up to 4 plexes.

I live in the Southern California market, so it's very very hard to make buy-and-hold properties cash flow, so I'm looking outside my market. I know some say they will only invest where they can drive to their properties, but so far none of those people have been CA investors, at least none I've talked to.

As a Broker for Keller Williams Realty, I have a lot of contacts with agents across the country who could help me assemble a team on the ground in an area I'd like to invest.

I'd really like to hear from other BP community investors who invest OUTSIDE THEIR MARKET and the pros, cons, types of systems in place to make it effective, etc.

Again, always wanting to learn from those who have walked before me.