Out-of-state real estate investing has a number of benefits. If you’re living in a high-cost-of-living area, out-of-state investing could be the perfect way for you to get your foot into the affordable rental property door. But, going in blind when long-distance investing could hurt you in the long run, so it’s best to know what to do (and what not to) before you buy an investment property in another county, city, state, or even country.
Sarah Weaver and Soli Cayetano both started their investing journeys from afar. Sarah began by investing 500+ miles away while she was living in pricey Denver, and Soli bought her first rental in Cincinnati, a good 2,500 miles away from her native San Francisco Bay Area. Their first rental properties were so successful that they made out-of-state investing their go-to strategy when looking to expand in the future.
So how did they choose a real estate market, get to know local real estate agents, and connect with contractors, cleaners, and property managers? Sarah and Soli will both explain exactly how they find their real estate deals and how they met their boots-on-the-ground team. Plus, they’ll share exactly how you can do the same!
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~~~~ What Nobody Tells You About Out-of-State Real Estate Investing:
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00:00 Long-Distance Investing 101 01:08 How to Invest Out-of-State 03:15 Choosing a Real Estate Market 05:44 Finding Real Estate Deals from Afar 06:53 Finding Agents, Contractors, Cleaners and More 08:12 Out-of-State Investing Tips
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By: BiggerPockets Title: How to Get Started in Out-of-State Real Estate Investing Sourced From: www.youtube.com/watch?v=5vg9N-5_NGs
