Hi fellow BPers!
I am just getting into real estate and am looking for some advice in regards to investing in the Cleveland market from out-of-state. I am active duty military, currently stationed in the DC area. My goal is to invest in multi-family properties that (ideally) meet the 2% rule and will be cash flow positive. As I'm sure you well know, those properties aren't exactly plentiful in my current location.
This has brought me to the idea of out-of-state investing. Cleveland seems to have great potential in terms of the properties I'm looking for. Unfortunately, my job prevents me from being able to readily travel to Cleveland, and so I was hoping to get some insight on investing in the Cleveland market from you all.
1) Is it possible to complete sound real estate deals remotely, without having to physically be in the city all of the time?
2) Would it be foolish to try and "landlord from afar", or should I just go the PM route right from the get go?
Thanks everyone for your time. If you have any other advice in regards to investing in this area, I would be incredibly grateful!
- Max
