The Out-of-State Investing Checklist

What to line up before you buy somewhere you've never been. A huge share of first-time investors buy remotely, this is what replaces the local knowledge you'd otherwise have for free.

• Lined up a local agent who works with investors, not just homebuyers.
• Lined up a property manager, and called two of their current owner references.
• Confirmed the property manager actually covers this specific neighborhood, not just the metro.
• Got a real, current insurance quote for this exact property, not a regional estimate.
• Checked flood zone status directly instead of assuming.
• Got a video walkthrough, or had someone local view the property in person before I offered.
• Set up wire fraud precautions: confirmed closing instructions by phone, not by email alone.
• Checked this state's landlord-tenant law (see the Tenant-Friendly vs. Landlord-Friendly States checklist).
• Set up a way to collect rent and track expenses that doesn't require me to be there.
• Have a local contractor I can call for a second opinion on repair estimates.