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Updated over 4 years ago,
Is it possible to self-manage from “a distance”?
Hello all. Hope everyone has kept themselves safe.
I'm new to the world of real estate investing. I live in Manassas, VA- a pretty western suburb of DC. My issue when trying to run numbers on potential deals is that the best areas for rent-to-asking price ratio seem to be about 1-1.5 hours away from me. It seems positive cash flow is POSSIBLE closer in to the city, but with not a truck load of cash, the best places for me appear to be out toward the interstates. I'm looking either SFH or small multi-family.
My question is whether or not it is possible, (read “logical”) to invest in property I intend to manage without a pro, that is not just a quick drive away. Does anyone have success with this or am I better off finding a property manager?