Buying property out of state

[Victoria Ross]

I was wondering if I should do a out of state rehab. I have never done one before. Does anyone have any ideas, suggestions or comments

[Ryan Pyle]

I love it when out of state investors buy property in Toledo. I usually buy it from them or their lender a few years later for half of what they paid.

I'm being a little bit snarky, but there is a lot of truth to what I said. Rarely do out of state buyers get good deals in Toledo (and I'm guessing most other cities too). In every market in the country there are loads of excellent LOCAL investors that spend 80 hours a week scouring for deals. Do you really think that the California, Utah, Australia, etc guys are finding deals that we don't see? No. They are buying the crap that we passed on. Here that means war zones or flood zones.

The other thing I love to hear them say is that they have their "power team" local real estate agent and property manager on the job getting them local deals. Again, trust me, they are selling you the crap that the rest of us don't want.

Again, not trying to sound nasty or snarky. Just speaking the truth.

Real estate is local. Real estate is local. Real estate is local.