When you invest in real estate, before you get too much further there’s more than a fair share of research that must be completed well before an offer is made. You need to compare property prices in the area, find out how much it will take to bring the property to a saleable condition. Can you makeinvesting far away enough money to cover all the costs associated with the purchase and rehabilitation?

One thing you can also count on is a physical visit to the property. Does that mean you should only concentrate on real estate investments closer to home? Ones that you can drive by and make a visual inspection?

There are two sides to both questions and the answer is primarily “yes” to both. When investing in real estate, it’s important to know the neighborhood in which you’re pouring your hard earned cash into. Some investors will not even evaluate a potential property without knowing first-hand the past, present and future of a particular area. And that’s wise advice. But if you do find opportunities outside your area, there are some things you can do to make sure the project goes smoothly.

The very first rule is to surround yourself with an experienced, trusted team. A real estate agent in a faraway city should come to you as a personal referral, introduced by those whom you place implicit trust. The agent will know the types of property you like and how much you’re willing to invest. The agent will also have referrals for contractors who will help provide you with solid decision-making data that can tell you whether or not the project will be successful. When you do find a project that does seem to shape up as a profitable investment, it’s time to take a quick flight and see the property first hand.

Yes, buying locally is good advice but you can also expand your investment horizons by looking outside your area. Start with an area where you have referrals and connections. Visit them, have them take you on a tour. Become a real estate mogul outside your comfort zone. There are opportunities outside the comforts of your own back yard.