Is it safe to purchase real estate investments out-of-state? Should you be worried about what could go wrong? What should you consider before purchasing a property so far away? On today’s show, I’m answering all of these questions, and more!
On this episode, I’m explaining how to feel more comfortable purchasing outside of your home state, what bases you need to cover, and how to make sure everything is in place in order to run your business smoothly and safely. It’s all here on this episode of Investing in Real Estate!
More About This Show
I find that whether or not an investor wants to purchase out-of-state is a personal preference. In my business, I knew it wasn’t profitable to purchase buy and hold properties in my home state of New Jersey.
Properties in my area are simply bad investments. The cost to acquire is too high, and the taxes are outrageous. In my research, I’ve found that the ROI in New Jersey isn’t lucrative. If I want to build legacy wealth, I have to acquire properties with a high ROI.
Therefore, I always purchase my properties outside of New Jersey, and in my experience, it’s perfectly safe. I find that it’s just as safe, if not safer than purchasing properties close to home.
Worrying about safety is a mental barrier. Anything that happens to a property out-of-state could also occur nearby. In order to feel comfortable, I ensure that I have a professional, trustworthy property management team in place. I work with a team that has an A+ rating with the Better Business Bureau. They’re always nearby, and proactive about tackling any issues that may arise.
On today’s show, I’ll explain exactly what safeguards I put in place in order to feel comfortable purchasing properties out-of-state. I’ll also elaborate on what role equity has in purchasing out-of-state properties, and how you can get started achieving financial freedom.
We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family.
On this episode you’ll learn:
- What are the two things you need to confirm when considering an investment property?
- What should you look for in an out-of-state property?
- Why you should be reasonable and honest when purchasing out-of-state.
- The importance of acquiring updated photos.
- And much more about buy and hold real estate!