How do you manage from so far away? PM I assume, but even with that how often do you need to come to the area for related bussiness? How did you choose PM without being local - it seems to me it requires an awful lot of trust in the PM?
I have a friend who just bought a triplex in Phoenix. He never even saw the place until he had owned it about 6 months. - but he has an ace in the hole - his uncle is doing the managment for him for 1/2 the normal 10% rate. From what I have read, the best way to invest out of town is with a friend or family member you trust.
In general, Denver is not a good value. Properties are way overpriced when compared to rents - unless you have an inside track on something. Not to mention the high vacancies right now.
I'de like to know how others invest long distance like that.
You probably don't care about the East, but I invest in Md,De, and Va, because I am here. But I would like to expand.
I just got started in Austin, Tx. Nows the time to buy!!!
Only close to home so far.
How do you manage from so far away? PM I assume, but even with that how often do you need to come to the area for related bussiness? How did you choose PM without being local - it seems to me it requires an awful lot of trust in the PM?
Atlanta. It's a big enough area to keep me busy.
[addsig]
I have a friend who just bought a triplex in Phoenix. He never even saw the place until he had owned it about 6 months. - but he has an ace in the hole - his uncle is doing the managment for him for 1/2 the normal 10% rate. From what I have read, the best way to invest out of town is with a friend or family member you trust.
Newark Delaware. Home of University Of Delaware. College rentals yield high profits. (SO FAR)[ Edited by allhandl on Date 11/01/2004 ]
In general, Denver is not a good value. Properties are way overpriced when compared to rents - unless you have an inside track on something. Not to mention the high vacancies right now.
Southern Utah.......keeping my fingers crossed
all of central florida, orlando, daytona, ormond, tampa, bradenton, etc.