Many real estate investors like to keep a close eye on their investment properties. They believe local is best and they’ve got to be able to be there on the ground in order to truly be successful at real estate investing. There is nothing wrong with that approach. In fact, depending on the neighborhood and type of property you are interested in purchasing, it may be best to stick close to home and invest locally. However, investing in your own backyard is definitely NOT the only way to invest in single-family rental properties.
There’s a great myth that the only markets worth investing in is the one you’re in. While yes, there are absolutely benefits to investing in real estate on a local level—after all, you know the demographics, the management companies, the other investors, and even that little je ne sais quoi that you can only get from being a local yourself.
People say remote markets are dangerous. You won’t succeed. You need to be an insider. It’s true that you should know the market you’re choosing to invest in, and as much as possible. But that doesn’t mean you can’t find success through investing in real estate remotely. In fact, you can have a LOT of success! It just takes the right approach.
We will tell you outright that we believe the best way to invest in a remote market, whether it’s in the state over or across the country, is through turnkey real estate.