Investment properties out of town - Posted by charlie ho

Posted by ray@lcorn on December 09, 2002 at 11:21:18:

Charlie,

The success or failure of absentee ownership depends on a number of factors. Number one is your experience level and how well you can keep up with a property you don’t see regularly. I assure you that it is feasible to own properties away from home, but you have to have a system set up to take care of things.

The main considerations are the condition of the property; the quality of the rent roll; the state of the local market; and most importantly, the system put in place to manage the leasing, maintenance and collection requirements of the property.

Severe problems in any of the above will necessitate someone taking charge and seeing to a fix. If that’s not you, then be prepared to pay for someone or several someones to fix it, and the possibility they may not get the job done the way you want it.

ray

Investment properties out of town - Posted by charlie ho

Posted by charlie ho on December 08, 2002 at 13:23:51:

Hi,
I am thinking of investing in 22-units apartments out of town with a decent cash flow (2-3 hours away). Please let me know if this is a good idea or not. I appreciate your comments with pros, cons, and conclusions.

Thanks,
C.H.