Stepping into a brand new real estate market isn’t easy. Your local market is like that childhood friend you grew up with. You knew him, his parents, his third grade teacher, that embarrassing incident in the cafeteria in the fifth grade, and every awkward step all the way through high school.
You know him like the back of your hand. You could not talk to him for years, but meet him for coffee right now and pick up where you left off.
But a new market? There’s so many years you’ve missed out on! So much history you don’t know! How can you ever hope to catch up to people who’ve known that market for years and years?
Here’s the thing: it’s not a lost cause. Plenty of real estate investors successfully invest in out-of-state markets and go beyond their own local areas all the time. Is it more work? Yes. But it’s very, very possible, especially in our Information Age.
If you’ve confined yourself to local markets up until now, you may be a little nervous about breaking into a new real estate market for the first time. But don’t worry: we have tips!