BiggerPockets Real Estate Podcast

909: 6 Expert Tips for Out-of-State Real Estate Investing

Mar 7, 2024

Learn expert tips for out-of-state real estate investing, including cash flow vs. appreciation, market fundamentals, and local laws. Discover strategies for selecting markets, managing properties from a distance, and cost-effective maintenance. Get insights on starting in affordable markets and progressing to high-return areas, with a focus on aligning investments with personal goals.

21:48

Creator website

Episode guests

Rob

David Greene

AI Summary

AI Chapters

Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Select markets aligned with investment goals for optimal returns.

Balance cash flow and property value for market selection to suit unique objectives.

Deep dives

Choose a Market Based on Investor Needs

Investors should select markets that align with their strategies, whether focusing on short-term rentals for cash flow or long-term growth. Factors such as familiarity with the area and personal preferences play a crucial role in market selection. Each investor's approach, whether for cash flow or long-term appreciation, influences the choice of a market that suits their unique goals.

Introduction

2min

Strategic Out-of-State Real Estate Investing

4min

Strategies for Real Estate Investing and Sponsor Ads

5min

Navigating Out-of-State Real Estate Investing

8min

Property Maintenance and Inspection for Cost-Effective Management

3min

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

Find an Agent

Find a Lender