Thanks in large part to advances in technology that allow investors to find — and easily assess — the performance of out-of-town rental properties, as well as the range of management options that landlords and investors have at their disposal, what was once an arduous task that represented considerable risk is fast becoming commonplace. Reaching outside of their own local marketplace is becoming the preferred course of action for many investors and landlords; and in most cases, isn’t that dissimilar to the prospect of managing property in their own hometown.
The freedom of long-distance investing opens up significant opportunities for institutional investors and everyday landlords alike; chiefly, the ability to take advantage of markets that are better than what’s available in their own local vicinity. Taking advantage of the wealth of diversity in various markets across the states allows an investor to handpick investments with the greatest potential; allowing them to grow their portfolio far more quickly than they’d be able to if they were limited to the pool of properties in their own hometown.
At Renters Warehouse, we’re proud to support investors who are looking to invest in out-of-town properties. Our team provides on-the-ground local support; making it far easier for investors to outsource the nitty-gritty daily activities of property management; freeing them up to instead focus on growing their portfolios.
Suraj Shrestha is an associate at Harborside Partners. He has been taking the lead role on research projects; to develop and implement online marketing strategies for search engine optimization and social media marketing. He is one of the core parts for helping to grow business revenue and the company’s online presence.