Out of town investing - Posted by Steve - NYC

Posted by Mark (SDCA) on November 30, 2000 at 10:41:22:

I do that. It is VERY feasible. Most of your buy and hold issues are going to be logistics ones (how to find the deal, how to show vacant units, how to get the keys from departing tenants etc). I do A LOT of work by mail, phone and fax.

The one downside I see is that you don’t inspect your properties as much as you should. I would think flips would be harder (unless your dad is going to chip in). How would you get the carpet, paint people into the house?

It takes a little more planning but it is definitely feasible, at least as far as SFR go. If you are doing multi-unit, I always recommend having an onsite manager anyway.



Out of town investing - Posted by Steve - NYC

Posted by Steve - NYC on November 29, 2000 at 12:03:27:

I’m interesting in doing some long-distance investing. My father is a R.E. agent in my hometown (where I’d like to invest) and can help considerably.

Can anyone offer some advice on the pro’s, con’s, feasibility of investing from a distance?

If it matters, I’m planning on flipping as well as buy-and-hold.

Thanks in advance,