Buying a rental property in another city, county, or state? Then, you’re going to need boots on the ground in that market to help find, fix, and manage your investment property. How do you make sure you’ve got the right people in place from many miles away? We’ve got the tips you need in today’s episode!
Welcome to another Rookie Reply! Tony and Ashley are back with three more questions from the BiggerPockets Forums, the first of which comes from an investor who’s struggling to find meaningful cash flow in their market. Should they hold out for that “home-run deal” or settle for something less if it means getting that first property under their belt? Next, we’ll hear from someone who has enough money to buy a primary home or an investment property. We’ll weigh both options and even share an investing strategy that allows you to have both!
Finally, if you’re investing out of state, you’ll need a team of trusted experts in that market. But finding these people is easier said than done. Stick around as we share where to look, questions to ask, and some red flags to avoid at all costs!
Looking to invest? Need answers? Ask your question here!
In This Episode We Cover
How to build your own out-of-state investing team in any market (step by step)
Red flags to avoid when vetting agents, lenders, contractors, and more
Whether you should buy an investment property before your primary residence
How to buy a rental property with low money down using the house hacking strategy
The “minimum” cash flow you should accept when analyzing rental properties
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-670
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
Learn more about your ad choices. Visit megaphone.fm/adchoices
