515: Your Step-by-Step Guide to Buying Out-of-State Investment Properties

Oct 7, 2021

Discover how to invest in out-of-state properties with expert insights from seasoned investors. Explore lucrative markets like Tampa and learn to balance cash flow with appreciation. Gain valuable strategies for selecting the right local agents and property managers. Understand key real estate trends influenced by climate, and uncover essential questions to ask when forming partnerships. Whether you're a seasoned pro or just starting out, find out how data-driven choices can lead to investment success.

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ADVICE

Focus on Your Needs

Don't just ask "what's the best market?"
Instead, ask "what's the best market for me?"

INSIGHT

The Investing Spectrum

Real estate investing involves trade-offs, like cash flow vs. appreciation.
Like in football, prioritize based on your circumstances, not dogma.

INSIGHT

Cash Flow Isn't Everything

Blindly chasing cash flow in a hot market is like stubbornly running into a stacked defensive line.
Consider other strategies, like appreciation.

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It’s not uncommon for investors to start out by buying properties in their home markets. It makes things like neighborhood research, rehabs, and tenant showings so much easier when you’re only a short drive away from your property. That’s how Dave Meyer, VP of Data and Analytics right here at BiggerPockets, feels.

Dave is currently living in Europe and has invested exclusively in Denver, where he used to call home. Now, as an entirely remote landlord, he’s seen the data on how many markets (like Tampa, Florida) are doing phenomenally for appreciation and rent increases. David Greene, out-of-state investor and the man who literally wrote the book on long-distance real estate investing is here to offer some much-needed council.

With David having the experience as an agent and out-of-state investor and Dave having robust housing data at his disposal, the two come up with some clear plans to invest in up-and-coming markets. David and Dave talk about cash flow, appreciation, wage growth, the investing “spectrum”, and why so many real estate investors aren’t planning far enough ahead.

In This Episode We Cover:

Cash flow vs. appreciation and which one matters most to you

Developing your investment strategy and picking markets where it works

Balancing the benefits of real estate investing and the investing “spectrum”

What makes a market appreciate and cause rents to rise?

What to do once you’ve found a great market to invest in

Questions you should ask every out-of-state agent and property manager

Where Dave and David are both looking to invest

And So Much More!

Links from the Show

BiggerPockets Youtube Channel

BiggerPockets Conference 2021

BiggerPockets Agents Finder

BiggerPockets Insights

BiggerPockets Podcast 108: Building a $350 Million Real Estate Empire Using the 10X Rule with Grant Cardone

BiggerPockets Podcast 250: Grant Cardone on Multifamily Investing and Why You Should Never Buy a House!

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Check the full show notes here: https://biggerpockets.com/show515

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