Think about zeroing in on a particular niche.

Then, when they call you let them know that you just sold that particular address, and ask if he/she would like to be contacted on the next one you get similarly spec'd to the one on the sign.

You really opened our eyes to looking out of state and in particular turnkeys as we were continually running into walls and negative profit margins here in So Cal.

Given an otherwise equal choice I'd always go that way.I think (in this particular situation) that you have a slight advantage in selecting a tenant if you tell them up front that you live right next door (or upstairs) and like to keep a pretty mellow environment.

So - while we account for the various items allowed for in the 50% rule, we just do the math on each property we are at all serious about.One issue I have with that particular rule of thumb is that we do conventional 80/20 financing with 15 year amortization.

I could venture to Jersey, but to be honest I'd like to concentrate more on the NYC area as I have more connections here and I think this particular area will be getting more and more expensive in the next decade.

You can share files but those you share with only have access to the particular folder the file is in.

I really am in love with the south right now, particularly some of the nicer areas of memphis, Houston, little rock, and even some parts of Austin (although it is getting pretty pricey)Thank you for the awesome input guys, I know out of state investing isn't for everyone, but I don't plan on jumping in without putting in some serious research and networking time.Thanks again guys.

Just to quickly ask, are there any components that listing agents in particular need to focus on?

With me being a new investor and actually looking for a mentor to work with, I'm finding it hard to distinguish between someone soliciting a particular program they teach, and someone who is genuinely looking to work with someone and see them grow and become successful in their real estate career.