In this coaching video, the speaker advises investors to begin by buying within a 50‑mile radius of their home to master creative financing without unnecessary complexity. He emphasizes the advantages of in‑person interactions for reading sellers and building relationships. When investors need to purchase out‑of‑state, he outlines three key steps: (1) select a market you already know through personal ties or past experience; (2) establish "boots on the ground" – a local team that may include a property manager, attorney, realtor, inspector, and other trusted contacts – to provide credibility and handle on‑site tasks; and (3) run the same business‑as‑usual systems you use locally, such as lead‑generation, follow‑up, offer making, and assembling a dream team, even if you are not physically present. He shares examples, including a student buying in Alabama and a Rhode Island‑based deal in Connecticut, to illustrate remote execution. Finally, he describes a growth pathway from local to nationwide investing, mentions bi‑annual events in Rhode Island, and provides a promotional URL (smartrealestatecoach.com/50off) for further coaching.
Chapters
How do I invest in real estate out of state? First and foremost, let me state this: we always encourage you to buy and sell real estate in your local market. With creative financing, you don't have to go and identify a market that's outside of your state in order to invest in, which I know that this is taught in other real estate niches, that there's very specific, um, things associated with markets that you need to be a part of in order to then buy and sell real estate there. What we would encourage you to do is actually buy real estate in your local market. What we say is draw a 50-mile radius around where you live and buy there. And here's why. When you're first getting involved in creative financing, there's already enough moving pieces. You're already learning a new business. You're typically learning a new real estate niche. Why overcomplicate it? You will advance significantly faster when it comes to your knowledge and skill sets if you can go to the property on appointments and physically go there. So that way you can walk through the property, communicate with the seller, go belly to belly. 'Cause I bet you, if I ask you the question, do you think that you could close a seller, would you be better in person or over the phone? My guess is you would say in person. In person's easier to read people's body languages, ask additional questions, get a real good feel. And plus, there's nothing better than belly to belly. There's a relationship that gets brought to the next level when you're in person, you're spending time with somebody. But let's throw that off the table, right? So let's say you are unable to buy real estate inside the market in which you live in. Buying and selling real estate out of state isn't that much more complicated. It adds another layer of complication, but it's not that much more complicated. I'll walk you through a couple steps. So first and foremost, you'd have to identify the market in which you want to be a part of. Say you're living in New York and you want to buy in Florida. All right, well, so identify the market down there and then understand the market. I would encourage you though, if you were to buy out of state, I would encourage you to buy in a market in which you have some familiarity with. Like whether you got family there, whether you used to live there at one point, you went to college there, whatever that may be. I wouldn't just suggest picking a random market. Now again, that's just my opinion. So after you've identified the market, you then would ensure that you have boots on the ground. So that'd be step 2, make sure you have boots on the ground. That's why my previous comment to say, hey, if you got family there and they have a good feel of the market, or a good feel of just the neighborhoods, then your boots on the ground are gonna go a long way. So your boots on the ground are there for a couple reasons. One is they may be there in order to go on appointments or to see properties or to take pictures. They may be there to meet with attorneys. They also may be there in order to meet with both buyers and sellers and be there for the buyer closings. See, we have a property right now. We're buying with a student. She is, I believe, up in the Northeast, and she's buying down in Alabama, 'cause she already has a wholesaling business down there, so she understands it, and now she's acquiring real estate creatively. So what we established down there was a property management company. That's our boots on the ground. We've established an attorney, and as we continue to build a business in that area, we'll establish some realtors and some other people for boots on the ground. It adds comfort, adds a comfort level for you as a real estate investor, but it also adds a comfort level for the sellers and the buyers. When they hear that you're buying out of state, they then think to themselves, what do they know about this market? What do they know about these properties? In the real estate business that we happen to be a part of, it is very much a people business. So if we can help people feel more comfortable with you being out of market by having boots on the ground, that's a big thing. Now, I know I sat on this for a couple minutes here because that is probably the most crucial piece when it comes to buying property out of state. And then third step is business as usual, meaning if you're buying property on creative financing, you're going to be making the same offers. Well, you're going to have first the same lead gen system, you're going to be making, uh, the same follow-up system, you're going to be making offers the exact same way, uh, you're going to be establishing the dream team in that area the exact same way. You just don't happen to be there. Because the truth is there's been deals in which we have purchased in our market but have never seen them. So I'll give you an example. We bought a property, I lived in Rhode Island at the time, and the property was in, let's say, right at the corner of New York and Connecticut. But we bought a ton of property in Connecticut. How we acquired that property was we knew a realtor that we did a lot of business with. The property's about to expire. Mm-hmm. That realtor then gave us the connect to those buyers. Those buyers were relocating to, I believe it was either Alabama or Georgia because they're a part of the military, and they were gone and they needed debt relief. So we then just communicate directly with the realtor. We then worked with an inspector that came in and reviewed the property so that way we didn't have to go out there. And then we were able to then establish business as usual. We then were able to place a buyer on the property, collect a non-refundable deposit, worked with them. That property cashed out probably within 36 months of that deal. So if you follow these steps, identifying a market, then getting boots on the ground, and then just working the creative financing business, you can buy anywhere you'd like. You can buy out of state, in state, you name it. Because as you continue to grow and scale your business, some steps would be, in our opinion, buy locally. Then once you have your systems and processes dialed in, then go buy out of state. But if you need to buy out of state, just follow that system, uh, as we are consistently showing people no matter route, no matter which route you go, exactly how to be able to buy and scale real estate. In the creative financing niche. We're actually able to get together with our students and people outside our community on a bi-week— bi-yearly basis here in Rhode Island, where we put on 2 of our large events where we'll show you exactly how to utilize each and every one of those steps that we talked about here today to ensure that you have a great real estate business that can continue to grow and scale. Because eventually the idea is that you build a portfolio that you can eventually step out of, have a team that continues to run and scale it, and one day it doesn't matter where you live, you have a great portfolio that's consistently bringing you real estate deals. Now all you have to do is go to smartrealestatecoach.com/50off. That's smartrealestatecoach.com/50off, and we'll see you here in Rhode Island.
