Q & A Saturday – Should I Invest Out Of State?

Welcome to our Q & A Saturday video.

In these Q & A Videos we will answer your questions about real estate.  Any real estate related topic from questions about selling your house, buying a house, real estate investor questions, land lording questions, local market questions and many others things are all fair game. 

Today’s question is “Should I Invest Out Of State?

Trashed Master Bedroom in PA rental

In this video Shaun discusses some of the pros and cons of investing outside of your local areas.

 

Some of the main points covered in this video are:

1)      Discussion of the rentals we have out of state

2)      Reasons why someone might want to invest out of state

3)      Some pros and cons of out of state investing

4)      Shaun’s advice for those that are seriously considering investing out of state

 

 

The propensity of out of state investing seems to have really increased the last few years.  There are many reasons to get into it but at least as many pitfalls you can encounter as well.  The biggest piece of advice is to be leery of jumping into out of state investing if you have no prior land lording experience.  Even if your intention is to have a property manager and to have little direct involvement without some prior experience it will be hard to “Manage the Manager”.  Without some direct knowledge it will be hard to understand what is going on when there is a problem, if the manager is giving you adequate communication or just if they are doing a good job.

 

Hope you enjoyed the video and leave any other questions you have about the topic below or any other topics you would like to see covered in future videos.  I encourage anyone that has things they would like to talk about to let me know what they are.  You can always fill out a contact us form here and put Q & A in the subject, just leave a comment with your questions below here, send an email to info@masshomesale.com, or post it on our Facebook page or Twitter account.

 

Resources mentioned in the video and some other useful resources and good articles:

–          Good Investopedia article on buying property out of state

–          Our Instagram account to see more photos of the abandoned rental house we just saw in a trip to visit our out of state properties

 

 

 

 

 

 

(Image Credit: Photos of Abandoned Rental via Instagram)

 

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