Can’t invest in your own backyard? Out-of-state investing is the way to go! With it, you can invest nationwide, finding more cash flow or appreciation potential than you would in your local area. But managing a rental property portfolio from hundreds, if not thousands of miles away, isn’t always easy. Thankfully, we’ve got two time-tested out-of-state investors with six killer tips to share on making your next long-distance investment as profitable and painless as possible.
Whether you’re buying short-term rentals, long-term rentals, or something in between, these tips can help ANYONE find financial freedom faster, deal with fewer tenant headaches, and save a ton on future maintenance bills. The best part? You don’t have to check in on your property every other week to ensure it’s safe and sound, but you will need local help if you’re trying to take your investment to the next level. What exactly do we mean? Stick around; we’re walking through all the top tips you need to know.
Want more tips for out-of-state investing? Pick up David’s book, Long-Distance Real Estate Investing!
In This Episode We Cover:
The top six expert tips for buying and managing out-of-state investment properties
Cash flow vs. appreciation and why you MUST know what you want BEFORE you buy an out-of-state rental
The real estate market “fundamentals” that point to a phenomenal investing area
Investing with your end goal in mind so you can quit your job or retire a multimillionaire
Local laws that can DESTROY your investment if you DON’T know about them
The “boots on the ground” team that’ll keep your property in tip-top shape (no matter where you are)
And So Much More!
Links from the Show
Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts
Get More Deals Done with The BiggerPockets Investing Tools
Find a BiggerPockets Real Estate Meetup in Your Area
Expand Your Investing Knowledge With the BiggerPockets Books
Be a Guest on the BiggerPockets Podcast
Try the BiggerPockets Rent Estimator
Should You Invest Locally or Long Distance?
Books Mentioned in the Show
Long-Distance Real Estate Investing by David Greene
Start with Strategy by Dave Meyer
Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-909
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