Long distance investing advice

[Tye Foster]

I have been looking at buying buy and hold properties out of state in some more affordable markets. I am wondering what are some key things you guys look for when choosing what markets to buy in? I know schools, crime, taxes, economy are some of the big ones that are a must but what else helps you determine whether or not to buy in an out of state market? Also, do you hear of a city or an area on podcasts or from other investors and research it or how do you hear about out of state areas to potentially invest in? 

Thank you for the help!    

[Omar Khan]

@Tye Foster Great question! @Alpesh Parmar has raised a good point about focusing on one market due to logistical issues. Your best strategy would be to choose a market that works with your parameters and go from there. Instead of trying to buy multiple properties across the country, focus your energies towards buying your assets in a few markets. 

The biggest focus for us is job growth and type of job growth coupled with low crime area. It's just not worth the hassle of dealing in a bad neighborhood with lower-quality tenants. You can start by looking at the city's page, Best Places and City Data to get you started. After that it's all about deciding what sub-market is the best fit for your criteria and reaching out to realtors, brokers and the like.

The article below should help you out: 

Choosing the Right Real Estate Market To Invest In: The 4-Step Guide to Success