I Want to Invest Out of State What Should I Know?

In the recent episode of "Keys to Success", Litra Simms offers a comprehensive guide for real estate investors interested in out-of-state properties. Litra outlines the potential benefits of investing out-of-state such as lower property prices, higher cash flow, and increased investment opportunities. She emphasizes the importance of thorough research into potential markets, taking into account factors such as economic stability, job growth, rental market dynamics, and property appreciation potential. Litra also discusses the importance of understanding the local laws and taxes, and the benefits of property managers and technology in effective remote management. She advises on building a reliable network of contractors and vendors, and a strong local network for support and opportunities. Lastly, Litra highlights the potential risks of out-of-state investing including limited control over the property, higher repair costs, and market risks due to unpredictable factors. The episode provides a solid foundation for investors looking to expand their real estate portfolio outside their local market.