All Topics / The Treasure Chest / Investing far from home

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  • Profile photo of gogirl2gogirl2
    Member
    @gogirl2
    Join Date: 2002
    Post Count: 6
    February 4, 2003 - 9:02 pm

    Hi,

    I read the Dragon’s question and I agree with AD about not letting the newbie’s (which includes me) get off that easily – after all who wants to have an easy ride ??[:0)]

    My questions to the not-so new investors are:

    How far are you willing to go?

    How do you manage it if it is more than 1-2 hours from your home base?

    Does anyone have any insights (insights – not areas) they would like to share with me about investing far from home?

    Thanks alot

    Go Girl
    [:O]
    [:)][:)][8D]

    Profile photo of AdministratorAdministrator
    Keymaster
    @piadmin
    Join Date: 2013
    Post Count: 3,225
    February 5, 2003 - 7:37 am

    Hi Go girl,

    I have one unit far from me ( hope to build on that though > houses) I have a real estate Agent manage it and do the periodical inspections required and I have had no problems to date. I feel that I don’t have any more or less problems with this property as opposed to the ones I have closer. I will be personally inspecting the city one for my first time in 2 years.
    Can other tell me how often they inspect their investments.
    Cheers Isagold

    Profile photo of ADAD
    Participant
    @ad
    Join Date: 2002
    Post Count: 636
    February 5, 2003 - 2:00 pm

    Hey Go girl,
    I have a wrap that is about 3 hours from me and it works like a dream. Found the right people and the money works well. I am looking at some rentals there next week and that will involve using a good rental agent that I will source while I am there. My other properties are about 1 hour from home and I am lucky as I have a good agent watching/managing them for me. It makes it easier for me to find real estate problems to solve rather than tenant problems. Real estae problems make me a whole lot more money when I know I have a good agent helping me with my concerns.
    Enjoy

    Enjoy
    AD [:0)]

    “Don’t dwell on reality; it will only keep you from greatness.”
    -Rev. Randall R. McBride, Jr.

    Profile photo of MikeRobinsonMikeRobinson
    Member
    @mikerobinson
    Join Date: 2002
    Post Count: 27
    February 5, 2003 - 2:17 pm

    Why the worry about distance?Adelaide is 5 hours from my town and I have 3 I.P.s all spread across Adelaide.They all work well and only 1 is managed by a real estate agent.I’m always looking for more,both at home and in the city and don’t forget,Mr taxman just loves to pay for my yearly visit to Adelaide to check on the investments.Question,do you worry about distance if you buy shares?By the way,I don’t own any shares.Have fun investing and keep asking questions,Mick

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