BiggerPockets Real Estate Podcast
How to Buy Your First Out-of-State Real Estate Investment (Step-by-Step)
Feb 7, 2025
Kathy Fettke, a long-distance real estate expert, shares insight into out-of-state investing, tapping into the shift from expensive coastal markets to more affordable regions. She breaks down essential steps for new investors, including how to pick profitable markets and analyze deals from afar. Kathy discusses the crucial factors to consider, like property taxes and insurance, along with the importance of establishing a reliable property management team. She reveals her top rental property choice for first-time buyers, making out-of-state investing accessible for everyone.
42:04
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Quick takeaways
- Investing out-of-state allows individuals to find lucrative properties in markets with better job growth and affordability, overcoming local cost barriers.
- Effective research and establishing local partnerships are vital for successfully analyzing deals and managing properties from a distance.
Deep dives
The Benefits of Long-Distance Investing
Investing in real estate outside of expensive local markets presents significant opportunities for wealth building. Long-distance investing allows individuals to select markets that better match their financial strategies, focusing on cash flow rather than merely appreciation. This approach enables investors to access more affordable properties in areas with strong job and population growth, which may not be available in their home regions. Overcoming the initial intimidation associated with investing remotely can lead to numerous financial benefits and a diversified portfolio.
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