When the property you have bought or sold is in a distant location the challenges increase massively. You must get to know the area you are selling or buying your property or buy a property in an area you know. Making sure there is a property management company and a maintenance worker at hand and that an inspection and or survey has been done. Check that the area you are buying in does not have falling real estate values otherwise the investment will depreciate and you will end up in loss. Lastly, networking out of state is important in order to fill vacancies, collect rent , make repairs and have someone in case of emergencies – they will safeguard your investment.
Will you invest out of state?