Investing interstate

But how do people buy these places? Do they just buy over the phone or do you actually go there to inspect the houses? No offence, but Kalgoorie is in the middle of nowhere!

Many investors use the net and/or local agents as their first point of contact. Most will either go there themselves or, alternatively, employ independent building inspectors, valuers etc as part of their check and balance process.

If you are buying in Kalgoorlie I would recommend a visit as there are pockets of Kalgoorlie that are problematic.

I would also steer clear of double brick places due to the heavy clay nature of the soil.

Also, I remember reading somewhere that you should always buy rentals near your own house, so that you can “look after it”. Is this wrong advice? It sounded pretty good to me when I read it…

I wouldn’t agree with the statement – the critical part is knowing your investment goals and then finding a property that fits. Sometimes your local area isn’t going to provide you with the investment you need.

Having said that you may well have a good eye for an investment in the local area. To me the key point is the purpose of your investment.

Would love to hear from people who have rentals interstate and how they manage them.

My PM collects the rent, sends me photos at inspection time and rings me when things need my attention.