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7 steps for investing in out of state real estate.

Jul 29, 2008
There are times in your life when you have to make decisions that others may question you on in order to change your future.

That is the case with many investors who want to build a rental portfolio or invest in real estate but there market is so crazy that a 2/1 shack is 200k or the taxes are so high getting a positive cash flow is just not happening. So what do you do?

Search for properties in another area or even another state, that are affordable and give you positive cash flow.

There are plenty of areas that were not affecting by the real estate bubble bursting, at least not as bad.

When the Bubble burst they also didn?t have a 50% depreciation in a year. In fact they just hang out and many people just don?t even notice.

So what are the steps to finding out of state properties. Here are 7 sure fire steps that I think you must do in order to be successful.

1. Look for Areas that have a strong rental market. Meaning an area where a good majority of houses are owned by investors who are renting property. This will tell you that the taxes are low and the rent rates are high enough to attract investors who want cash flow.

2. Find out the areas that other out of state investors are buying in. Google is one way that comes to mind. Craigslist.com is also a very good source. In fact I think it is one of the best sources to find great deals.

3. As you find the areas, investigate the area to make sure it was not booming during the bubble. Make sure it is a boring market, so to speak. Meaning one that does don't blow up or down real high, one that just stays steady

4. Don't waste time trying to find the deals and talk to realtors. Just find the local wholesaler and you will find the best deals.

5. Just like on tv and all the spy shows, when the spy wants info they go to the man with all the connections. That is what you are doing when you find the local wholesaler. He will be the big dawg in the area and know all the contacts that you need.

6. Find out who the hard money lenders are in the area. Guess who they will be friends with, that?s right the local wholesaler. By finding the money lenders you will find the best deal finder. They will be the one constantly finding great deals and bringing buyers who need to borrow their money. Easy-----just like a spy!

7. Contact the wholesaler in your area. It?s much easier and less work than working with realtors. Be sure to do some checking and asking around, make sure he or she is the big dog, so to speak. They run their business off of volume so they find the deals and mark them up just a few thousand and move them so they can keep buying more properties. Besides, the local wholesaler is going to snatch all the best deals up anyway because they are going to have all the relationships with the realtors anyway and get 1st call on the deals.

The work that the wholesaler does in order to find his deals is more than worth the few thousand dollars he or she will mark the property up.

use the wholesalers contacts and you will acheive your investing goals alot faster.

Then what? You ask.

Get to work and do some deals, build your cash flow and take charge of your future.

Be Bold and Courageous, it will change your life!
About the Author
About the author: Jesse Davis is a seasoned wholesaler in Jackson Mississippi. For advice on building your rental portfolio and get a free audio on Wholesaling Real estate
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