[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]
Yes and no. You are right in that it is counter intuitive, but modern communications helps remove one barrier. Many current investors are reluctant lanlords who aren’t able to get the return they want anywhere else, and the chances of finding that perfect cash flowing property on your own doorstep is often remote. Like any investment it is a risk you take, and requires that you manage your managers. I have remodeled, rented out and sold properties successfully across national borders without leaving home. The one job I wouldn’t want is a property manager’s so I respect the crap they have to put up with, and make allowances. Property managers are not the worst thing that can happen, but you do need to keep an eye on them.
