Long Distance Real Estate Investing

Investing in real estate long distance is certainly possible. First thing first is to find a realtor in that state that deals with out of state investors. After you find an agent, start looking at properties. Will you be managing this property yourself, or will you hire a management team, if so shop around. Management costs are on average 10% of the rent. A small price to pay for security. This will be very important if you’re not around. 

Find a property you’re happy with, and get the offer accepted. All papers can be signed electronically. 

Remember a solid team when investing out of state is crucial. If you’re not there you want to make sure that you have a team on the ground that you trust. 

Regarding finding tenants out of state, spend some time considering what your criteria is(credit score, income to debt ratio, past evictions, etc.). You can use common listing sites to find applications (rentler, zillow, or other).

Good luck and congrats on your new investment. 

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