All Forum Posts by: Tyler Caglia

@Lauren Olson Being in CA, I was faced with the same dilemma when starting out. I made the decision that I’d rather chase cash flow in the midwest than appreciation on the West coast, so I jumped into long distance investing. If you feel uneasy about it, David Greene does a great job laying it all out for you in his book, and there’s a few BP podcasts that discuss the concept in detail. Find a market, find a rockstar team, and go for it. The first time can be a bit daunting, but you have to trust yourself, trust your numbers, and trust the process, and it only gets easier from there.

It can actually be less stressful and more efficient to own property out-of-state if you do it right. If you own locally, you can be tempted to not only get emotionally attached to a deal, but if you acquire the property you would then be tempted to manage/maintain and periodically check in on it yourself. However, a long-distance property forces you to leverage the services of your team so that you can spend more time researching and growing your portfolio. Feel free to reach out with any questions, I’m happy to help.

@Justin Williams There’s absolutely nothing wrong with purchasing your first property out-of-state, as long as you have the right team (as you seem well aware of). With all of the information available on the internet, it’s fairly easy to find the highest-rated realtors, PMs, lenders, and contractors in any particular area. Try to find a good investment-minded RE agent with rehab knowledge/experience and it will help tremendously. Have the agent send you videos of the property as he/she walks through it.

I can tell you that investing out-of-state can be incredibly efficient and much less stressful than local investing if you do it right. If my properties were local, I would be tempted to manage & maintain them myself, and check on them periodically. However, with the properties out of state I am forced to rely on the expertise of others, and by leveraging their services it allows me to focus on what matters: growing my portfolio.

So with that, I say go for it!