Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
Results (10,000+)
Julie Muse Spruce Street Success: Profitable Flip in Modesto with Seth Choate!
19 July 2024 | 0 replies
Utilizing Seth's local expertise, we secured the property for $200,450.
Julie Muse Sierra Drive Success: Profitable Flip in Coulterville with Seth Choate!
19 July 2024 | 0 replies
Leveraging Seth's local market expertise, we secured the property for $185,000.
Scott Trench Investing in Blue States > Investing in Red States
25 July 2024 | 62 replies
What is $40mm in 2024 worth from both an inflationary standpoint, US dollar devaluation standpoint, and in real estate what could you have leveraged with the same $2mm investment in another market, plus risk/reward 1 $2mm investment versus 5 $200k investments.  
Julie Muse Millgate Drive Flip: Big Gains in Spring, TX with Otis 'Lee' Sams!
19 July 2024 | 1 reply
Leveraging Lee's local market expertise, we secured the property for $115,000.
Patrick Zepeda Best Market-Entry Strategy for Short-Term Rentals
19 July 2024 | 5 replies
But thank you for the expertise!!
Phil Eck On the go health/nutrition for the busy investor/businessman/woman
19 July 2024 | 36 replies
The workouts are brutal, but very rewarding.
Julie Muse Cypress Place Success: Profitable Flip in Los Banos with Seth Choate!
18 July 2024 | 0 replies
Leveraging Seth's local market expertise, we secured the property for $290,000.
Denise MacDonald Torn between 3 cities to start investing - 'Two Driven Women' - PART TWO!
18 July 2024 | 5 replies
It is much more hands on and dependent upon some sort of subject matter expertise.
Julie Muse Greendale Lane Success: Profitable Flip in Jonesboro with Jamari Sprueli!
18 July 2024 | 0 replies
Leveraging Jamari's local market expertise, we secured the property for $165,000.
Grant Stepanic 10 Steps To Take For Out Of State Investing
18 July 2024 | 2 replies
Options may include traditional mortgages, private lenders, partnerships, or even self-directed IRAs.Calculate all potential costs including property acquisition, renovations, property management fees, taxes, and maintenance.Property Selection and Due Diligence:Use your local team to scout properties that match your investment criteria.Conduct thorough due diligence including property inspections, financial analysis, and reviewing rent comparables (rental rates in the area).Make Offers and Negotiate:Submit offers based on your research and due diligence.Negotiate terms that are favorable to your investment goals, taking into account potential repairs or improvements needed.Close the Deal:Once your offer is accepted, work with your local team to complete all necessary paperwork and close the transaction.Ensure all legal aspects are handled properly, including title searches and property inspections.Manage Property Remotely:Hire a reputable property management company to handle day-to-day operations such as tenant screenings, rent collection, maintenance, and emergency repairs.Establish clear communication channels and expectations with your property manager.Monitor and Adjust:Regularly review your investment performance and financial metrics (cash flow, occupancy rates, expenses).Stay informed about market trends and adjust your strategy as needed to optimize returns or mitigate risks.Long-Term Strategy and Growth:Evaluate opportunities for portfolio expansion or diversification in the same or different markets.Continuously educate yourself on real estate investing best practices and market dynamics to make informed decisions.By following these steps diligently and leveraging local expertise, you can effectively navigate the complexities of out-of-state real estate investing and build a successful portfolio over time.