Can I Invest In Real Estate Out Of State?
Wondering if you can invest in real estate out of state? The good news is yes you can. The great news is that we have not only general information on how you can do so, but an action plan to help you get started! Members of our Find-Fund-Flip System have the resources to take advantage of the great opportunities in various markets, not just those in their immediate areas.
A mistake made by many investors is in thinking that if the market in which they live is currently inhospitable to their preferred investment that they cannot or should not invest. But if you want to flip houses there are always markets where that type of investment is paying well. You just need to look for it and execute your plan.
Do Hard Money can provide you with software giving visibility into markets all throughout the U.S. Right down to specific neighborhoods! You can even use this real estate investing software to contact sellers and potential sellers via a variety of contact methods.
Out of State Real Estate Investing
Out of state real estate investing can work with a variety of investment types and for investors of all experience levels providing the investor executes a well thought out plan and stays informed and involved in all aspects of the investment.
This is a great option for you if you want to invest in real estate but live somewhere with a tough market.
Wholesale Real Estate Investing Out of State
This is the out of state real estate investing strategy that is usually the easiest and quickest to execute, so this is generally where we recommend starting. We even helped an investor living in Isreal wholesale a property in New Jersey!
Wholesaling is where you find a deeply discounted property, get it under contract, but then pass that to another investor who will take on the rehab and resale of the deal. They give you a finders fee or commision for doing all the work of finding the property. Because finding distressed properties with great margins is an art in and of itself this can be a profitable investment approach for someone wanting to capitalize on that skill and not get bogged down with the fix and flip.
Out of State Fix and Flips
Yes, this is possible as an investing strategy for motivated investors wanting to implement it. For those living in rural areas or markets that are not currently hospitable to fix and flip investments.
Bercause Do Hard Money provides our borrowers with an experienced project manager to help keep a rehab on budget and on schedle, an out of state fix and flip becomes even more feasible.
Owning Rentals in Other States
This is an investing tactic that actually works quite well for out of state investors. People often begin this type of investing because they come intop posession of an out of state property, perhaps through inheritence. By using property management services you can own serveral out of state rentals and still be a responsible landlord.
BRRR Strategy Investing
An ambitious undertaking for certain, but most certainly one that is possible when the real estate investor follows the correct guidelines and keeps focus on all of the aspects of the deal. BRRR investing is where you find a distressed property and renovate it to increase the value. Then you find a party to rent it so that you have cash flow established. The cash flow and increased property value will allow you to obtain a refinance loan that will allow you to own and rent the property long term.
Let DHM help you get started with your real estate investing business today. Give us a call 801-692-7703 or click on the button below to get started.