[quote=patb]I think anyone who wants to buy small scale out of state rental property should have their head examined.
No agent will ever do a good job, and the distance makes it a bad idea.
Unless you are close to retiring or moving, i’d forget it.
now if it’s reasonably close, sure.[/quote]
I don’t think you can make such blanket statements like this. Many people are successful at doing this. Granted, it’s not for everyone and can be a big hassle. But I don’t think you can say, “no agent will ever do a good job” either.
I agree probably most of the property management companies out there are crap. There are some good ones out there in various cities.
I also think the point people need to realize is you’re not going to get rich off of small scale rental properties when you only have 1 or 2. But you can make decent money/returns/cash flow just depending where you are at. 1 can become 2, which can become 3 which can become 4, 5, etc. After a while it all adds up.
