YouTube podcast episode "Ep 50 - 3 Myths of Out of State Investing" (Freedom Real Estate Group). Hosts Flip and Danny debunk three common misconceptions about investing in out-of-state rental properties: (1) that it is inherently too risky — mitigated by building a reliable local team and using tools like Google Street View, (2) that you must live nearby to manage issues — proximity isn’t necessary with boots-on-the-ground support, and (3) that property management is prohibitively expensive — investors should decide whether to be a landlord (hands-on) or an investor (hands-off) and value time freedom. Episode closes with calls-to-action (social groups) and a standard disclaimer.
Hey, everybody. Flip and Danny here, founders of the Freedom Real Estate Group family of companies. And welcome to another episode of our.
Podcast, Freedom through Passive Income.
That's right. And Today's episode is 3 Myth of Outer State Investing.
Good job. Should have heard of him practicing that.
That's, that's something that goes back to my, you know, second grade days. Anyway, so three myths of out of State Investing. Yeah. So number one, it's. Well, it's risky. Plain and simple. We used to. We always end with.
Myths.
No, we always end our episodes with.
Oh, invest smart, live happy.
Invest smart, live happy. Right. But originally that was live where you want, invest where it's smart.
That's right.
That was the longer version. We went, we shortened it. And so it is risky. But gosh, I mean, 20 years ago it was even more risky. But now, I mean, you've got Internet, you've got Google Street View, you've got, you know, it's crazy, but the biggest thing is to make sure you have boots on the ground.
That's right. Your team. We just recorded a quick podcast about, you know, the importance of a team. And that is one of the things. So everything that we talk about when it comes to out of state real estate investing, it's going to come down to the team. So just hear that, you know, we're going to say it again. Needing to be close to mitigate issues. That's another myth. You don't have to be close. It doesn't matter if you live down the street or you lived in Colorado and you, your house is in Ohio. You still don't know everything that's going on in that house at any given time. And you could be out and you could be on vacation. You're still not there all the time. So it's not something that you should be concerned about. Again, we're going to go back to the team. As long as you have a team, boots on the ground, people here to take care of the property. That's really what's important. And I'm not going to steal this line, but there's a line that I want to say right here because it's so, so important. So, so, so, you know, you just have to know what your goals are. And if you want to be an investor and you want to be building passive income, you have to invest where it's smart.
You know, you can't do that. What's the line?
No, I need to know where the line is. Nope, nope, nope.
I'm not gonna go on.
I'll do It. If people hit the like button.
Oh.
Ah.
Hit the like button. Hit the love button. It's time to hold. Smash that love button again. If you're watching online, make sure you hit that love button. The like button again. It's for the algorithm and the videos, honestly. But just let us know that we're doing good.
Yeah. That we're adding value, please, and thank you. We appreciate you.
But I wanted to say something about the need to be close to mitigate issues because we actually got an email from a client who. I'll probably say the wrong country, but I swear it was Switzerland. It was somewhere. No, it was somewhere over in. Over there, Across Pond. But he sent an email to Tiffany, our transaction coordinator, because she was so on top of the. That he sent her an email saying, thank you so much and the way everything's being handled. I feel like I'm two blocks down the street from this house. And so, again, it's all about the team.
Yes, 100%. All right. Property management is expensive, actually. You're going to start time.
Having the time is a freedom.
Yes.
You know, you know, people say property management. I mean, I don't mow. I don't mow our grass and people. Oh, you're Mr. Fancy Pants. You don't mow your own grass. No, I'm not going to spend the three hours it's going to take me to mow the grass when the two kids can come over and mow it. And a half hour.
That's right.
I'll pay them to do it because I'm doing something else that's making way more money in those three hours. So time is a freedom. And being your own property manager.
Yeah, agreed. And that's the line that I wanted to say on number two was choose whether you want to be a landlord or investor. That's 100% so key. Because they are two different things. A landlord, you are managing your property. You're dealing with the tenants and the toilets. You're vetting them, you're making sure that they're there, they're making sure that they don't move out without you knowing which happens. And it happens often. So just live with it. It's part of renting.
Actually, you know what's funny is there was a study done probably by the University of Michigan. It's one of a. Do you know. Do you know the average time that a tenant will call about their toilet being broken?
No.
2:00Am Just letting you know it was a study.
Hi, Mr. Landlord, or do you want to Be an investor and actually spend the money because the money that you're going to spend is worth it compared to the time freedom that you get back to be with your kids, to be with your loving spouse and all that other goodness.
And editor's note, there actually really wasn't, but it was probably done by university.
Oh, my gosh. I never know what he's up to. Anyway, those are the top three things that we want to. There's some truth in each of them in some way, shape or form. But there's not so much truth that it should stop you from investing and stop you from finding the right team to invest with. Because I tell you, when people find us, they end up going, we're going to do this, then we're going to do this. And that's the type of team that you want to find.
Absolutely. Now, we do like to keep these short and sweet. This one was a nice short one.
Yes, it was.
Very good job.
Thank you.
But again, make sure you join our groups, facebook.com groups, freedom through passive Income. That's right. And then over there on LinkedIn, we do have another group over there. Again, it's in the Freedom Capital Investment section, but just go to the search.
Bar and type in Freedom through Passive Income.
Boom. But we're also on TikTok, Instagram, MySpace, whatever. Wikipedia is Wikipedia. No, it's not.
No, it's not.
Anyway, but again, make sure you like love comment. Make sure you let us know how we're doing. Let us know if you have any questions. Let us know if you have any suggestions.
You're listening on a podcast. Five star reviews are awesome.
Yes, that would be. That's something else I gotta add. Anyway, we always like to end these with Invest Smart, Live Happy. Bye, everybody.
Bye.
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