New investor - any good resources for out of state investment?

[Manish Varma]

Looking for longer term 5 to 10 years at-least.

Property I am looking should be self sustainable with positive cashflow and good chance of appreciation.

I am advised to look into Atlanta and Charlotte but open for other suggestions as well.

In general, how advisable is it to start real estate investment with out of state investment?

[Brenden Mitchum]

Hey @Manish Varma, welcome to the BP community!

Looks like you've gotten some great advice and resources here!

@Holly Barrett nailed it. As long as you are tech-savvy and adept at networking virtually (we all should be getting pretty good at this), you'll do just fine investing OOS - certainly better than you would investing locally in a market that does not fit your goals/criteria. 

Yes, there are disadvantages but there are also advantages of investing from OOS. Two big ones are:

1. You have the option of choosing any market. This allows you to pick the best for your RE/life goals. However, don't succumb to analysis paralysis. Do your research, narrow it down to a few markets, speak with investors & RE pros in those markets, and make your decision. Then, stick with it. 

2. You're forced to build a great team from the start. Building your team first is highly recommended, regardless of investing OOS or locally. Local investors can, with greater difficulty, get started without a solid team. These investors will find themselves plateauing or unable to scale. If you build a great team in the beginning, it will grow with you. 

So, no need to be fearful or weary of investing OOS. Just do your homework on this strategy, research those markets and start building a team. Honestly, that last part is the most important. If you're able to build a fantastic team, you will succeed (in the long-run).

Hope this helps a bit. Please, feel free to reach out anytime if you have other questions or just want to chat!