Hello from San Francisco! Excited for long distance buy-and-holds

[Sunny Shah]

Hello, Bigger Pockets! My name is Sunny and I am a new member from San Francisco. Before moving out west, I spent four years at UPenn (Philadelphia) and the earlier parts of my life in northern New Jersey. 

I currently have a full-time job in SF and love the people I work with and what I do- building software products that help businesses operate more effectively. Outside of real estate and software, I enjoy reading nonfiction, sampling new cuisines and learning how different businesses work.

My goal is to invest long distance in multifamily properties where the 2% rule still applies given how expensive the Bay Area can be. I am interested in learning how others have 1) been able to gain confidence in selecting their target markets and 2) how they've built teams to manage these properties whose incentives are alligned with the investors. Any advice, anecdotes would be appreciated!

I am looking forward to hearing from you and being part of the BP community :)

[Larry Fried]

@Sunny Shah Hi and welcome to BP!  Finding property out of state that meets the 2% rule is going to be really tough these days.  I am not saying it can't be done, but you will find quickly that it will take you into really inexpensive homes in really poor neighborhoods, and that will not be good for your sanity.  It may look good on paper, but these homes are best left to local investors.