Thanks for all the input @Marco Santarelli
I get for the most part what you are saying. And I understand that different markets have different forces for different types of prices, I guess my main concern is knowing all the details without actually living in a region, if that makes sense.
The main reason I would like to diversify into real estate is because yes, I do feel paranoid in having little-to-no control over my stock investments, so I would like to go into something much more tangible, and since I don't have the time to start a business, real estate seems like a great idea. Looking at the math I get why it's a great investment, so now it's down to the details. I guess investing out of state has the same feeling that mutual funds do to me, trusting of other people to give you correct info that your money is in the right place. Obviously not the same as there is direct ownership, but still, the idea of a need for advisors (for a beginner) worries me. You must do due diligence on people as well as the building
Is there a link/explanation for the due diligence your clients go thru when buying from out of state? How do you know if it's a good area? How to find reputable inspectors/appraisers? How do you trust charts that the rent will be sustainable? I guess these are some of the worries I have when I'm not able to go walk around a neighborhood that I've grown up around, and knock on a building ;)
Obviously any investment has risks, and local investing has it's own risks that come with slim profit margins, I guess I'm just looking for opinions on how people have overcome the fear of the risks that come with non-local real estate
Sorry if this isn't making much sesne ;)
