515: Your Step-by-Step Guide to Buying Out-of-State Investment Properties

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Investing, Business

4.8 • 16.6K Ratings

🗓️ 7 October 2021

⏱️ 72 minutes

🔗️ Recording | iTunes | RSS

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Summary

It’s not uncommon for investors to start out by buying properties in their home markets. It makes things like neighborhood research, rehabs, and tenant showings so much easier when you’re only a short drive away from your property. That’s how Dave Meyer, VP of Data and Analytics right here at BiggerPockets, feels. Dave is currently living in Europe and has invested exclusively in Denver, where he used to call home. Now, as an entirely remote landlord, he’s seen the data on how many markets (like Tampa, Florida) are doing phenomenally for appreciation and rent increases. David Greene, out-of-state investor and the man who literally wrote the book on long-distance real estate investing is here to offer some much-needed council. With David having the experience as an agent and out-of-state investor and Dave having robust housing data at his disposal, the two come up with some clear plans to invest in up-and-coming markets. David and Dave talk about cash flow, appreciation, wage growth, the investing “spectrum”, and why so many real estate investors aren’t planning far enough ahead. In This Episode We Cover: Cash flow vs. appreciation and which one matters most to you Developing your investment strategy and picking markets where it works Balancing the benefits of real estate investing and the investing “spectrum” What makes a market appreciate and cause rents to rise? What to do once you’ve found a great market to invest in Questions you should ask every out-of-state agent and property manager Where Dave and David are both looking to invest And So Much More! Links from the Show BiggerPockets Youtube Channel BiggerPockets Conference 2021 BiggerPockets Agents Finder BiggerPockets Insights BiggerPockets Podcast 108: Building a $350 Million Real Estate Empire Using the 10X Rule with Grant Cardone BiggerPockets Podcast 250: Grant Cardone on Multifamily Investing and Why You Should Never Buy a House! Zillow Check the full show notes here: https://biggerpockets.com/show515 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the bigger pockets podcast show five fifteen.
0:04.6	What do I do from there? That's what I really am confused because like I like looking at the markets.
0:09.5	I like doing this mathematical analysis, but where I keep getting stuck is like,
0:14.3	all right, let's say a pick Tampa. What do I do next?
0:17.5	You're listening to bigger pockets radio, simplifying real estate for investors large and small.
0:24.2	If you're here looking to learn about real estate investing without all the hype,
0:28.3	you're in the right place. Stay tuned and be sure to join the millions of others
0:33.1	who have benefited from bigger pockets dot com.
0:36.2	Your home for real estate investing online.
0:39.4	What's going on everybody? This is David Green your host of the bigger pockets podcast here today with my co-host
0:45.6	Mr. Dave Data Scientist Meyer. Dave, how's it going today?
0:50.1	It's great man. I'm happy to be back on the show so soon.
0:52.9	Yeah, we call you a data scientist, but you're more like Dr. Strange.
0:56.0	You're like a superhero that happens to use data like magic to conquer the enemy of
1:03.1	financial destruction and achieve financial independence.
1:06.2	Wow, that is quite a compliment.
1:08.3	And I think I'm going to put that either on my job description or if it will fit on my business card
1:12.8	ahead of the bigger pockets conference, I'm going to try and get it on there.
1:16.1	Maybe you could make that your voicemail when people call you.
1:19.2	So they know who they're talking to.
1:21.7	I think they'll hang up before the end of it, but I can try.
1:24.7	Well, Dave and I are here today to break down some data for you guys to help make better decisions
	...

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