3316: The Downsides to Owning Out of State Rental Properties by Joel of 5AM Joel on Hidden Risks of Rentals

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Investing, Self-improvement, Education, Business

4.5 • 1.3K Ratings

🗓️ 13 October 2025

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 3316: Joel shares the real challenges of managing rental properties far from home, from unexpected repair costs and multiple state tax filings to navigating local laws and building trust with teams you’ve never met in person. With practical strategies and personal lessons learned, he shows how to handle these obstacles while reminding us why real estate can still be worth the effort. Read along with the original article(s) here: https://5amjoel.com/downsides-out-of-state-rental-properties/ Quotes to ponder: “It’s hard to build a trustworthy real estate team especially when doing it all over the phone!” “Small political changes can have huge effects on the profitability of your investments.” “If you want rainbows you have to put up with the rain.” Episode references: Long-Distance Real Estate Investing: https://www.amazon.com/Long-Distance-Real-Estate-Investing-Financial/dp/1947200038 The Speed of Trust: https://www.amazon.com/Speed-Trust-Thing-Changes-Everything/dp/1416549005 Learn more about your ad choices. Visit megaphone.fm/adchoices

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1:11.6	This is Optimal Finance Daily. The downsides to owning out-of-state rental properties and how to deal with them.
1:18.6	By Joel of 5am.jole.com.
1:21.6	There are downsides to owning out-of-state rental properties.
1:25.6	Some of them can be combated with careful planning and
1:28.9	extra ongoing efforts, while others are simply unavoidable. None of my rental properties are even
1:35.3	remotely close to where I live. In fact, the closest property I own is 1,463 miles away, just a cool
1:43.8	23-hour drive from my house. Distance alone presents some challenges,
1:49.2	but there are many others I've come to learn about. Here's what I'm talking about. Number one,
1:55.3	you can't do repairs yourself. Last week, my property manager called about some damage to one of my properties in Texas.
2:03.3	Apparently, there was a big storm that knocked down a bunch of trees, which damaged a fence,
	...

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