If you live in a high price market, it can make sense to invest in real estate long distance.

But how do you build a team and find good deals from thousands of miles away, especially if you're a new investor?

In this episode, I'm talking to a rental investor who did exactly that.

He lives on the West Coast and he successfully built a rental portfolio in the Midwest.

And of course, I asked him exactly how he did it so I could share it

with you. So let's get started. Welcome to the podcast Real Estate Investing with Coach Carson.

I'm your host Chad Carson. You can also call me Coach Carson,

and this is a show to help you get out of the financial grind so you can spend your time

doing more of what matters. In this episode, I interview Mike from the YouTube channel,

Millennial Mike, and it was actually recorded live on site at the one rental at a time event

in Las Vegas, hosted by my friend and fellow real estate YouTuber Michael Zuber.

I want to thank Michael for letting me use his awesome recording studio and for letting me share

it with you. Now let's get to our conversation. If you were to start from scratch,

you're starting in a new market. First of all, who would you try to start building on your team

first? And then let's go into the weeds of how you would actually find some of these people, even talking to them, finding them.

Sure. I love to hear your take on this. Yeah, you know, it's funny because it's a little counterintuitive. Most people, I ask them all the time because people come up and say, hey, how do I get started investing in the distance? Who's the most important person on my team? team and I ask him who is the most important person and a lot of people like well it's

probably your property manager maybe it's a real estate agent, the contractors, all these different members of your team you need to make sure you operate a property successfully. And I tell them those are great choices. But the most important person on your out-of-state investing team are the other investors in that market that are doing it successfully. What you need

is a network of mentors and peers. People that aren't trying to sell you anything, they're not going to make

any money off of you. They've already gone ahead and accomplished the things you want to accomplish.

Now what you need to do is figure out how to find, befriend, and then learn from these people all

so you can steal their team. I mean, of course, you're going to give them credit for it, but you're there to get their recommendations for property managers, agents, and contractors. You don't need to do the trial by fire yourself. You need to say, you got 100 properties. Hey, who manages them? Can I get their phone number? Yeah. I love that answer. Okay. So let's go there. So you start in this new market. You've decided to invest in Indiana and you live in California. And I know that's the case. I need to meet other investors. How do I even go about meeting those people? Where do I go? Yeah. So thank God for the internet. For all of its faults and failings, it did bring us all here together today. Exactly. What I tell people to do, the first thing they need to do is they need to go on Facebook, and they need to type in South Bend, Indiana Real Estate Investing Group. And they need to type in Indiana Real Estate Investing Group, and Northwest Indiana and three other cities that are big in Indiana. They're going to get about 10 to 15 different real estate investing group suggestions. You need to join all of them. Then once you've joined them, you go and you start looking through who's posting a lot. Because guess what? Everybody's saying, who's a good property manager? Then there's 30 responses from other landlords in your city. You leave a couple comments. Go back, read some posts, send a friend request to one of those guys,

ask if you can chat with them for a few minutes.

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