Welcome to The Coast to Coast Investor

OK…today is inauguration day for the Coast-to-Coast Investor.

So, what’s this blog all about anyway? My intention here is to create a one-of-a-kind blog dedicated to real estate investors who are interested in investing outside of their backyards.

After getting the blog successfully launched, I’ll be pairing it with a Podcast, which I’ll introduce in a future edition. A website is in the works, and a book on out-of-state investing is forthcoming.

Since this is as much my blogging initiation as it is the launch of The Coast to Coast Investor, I thought I’d provide a bit of insight on where I’m going with this thing. What’s the purpose, anyway? Let me start by noting that I am an out-of-state investor myself. In fact, I never had much interest in investing in my backyard. There are just too many exciting, compelling places to invest – recreational areas, the beaches, golf course communities in nice sunny places…you get the idea!

The challenge is, nothing has been written out there that discusses how to do this kind of investing successfully. In fact, the opposite is true – investing authors plainly discourage investing beyond one’s hometown. You are probably familiar with Carleton Sheets the famous real estate guru with the popular TV infomercial; open any of his materials, and within a few pages you’ll find advice to keep investing activities within a 30-minute radius.No doubt, there’s a good argument for investing on the home-front, but many investors, like myself, prefer other locales. Many…perhaps you are one of them…want to pursue hot markets. Those who went in to Phoenix and Las Vegas over the last five years made tons of money! Sunbelt locations like those certainly have a bunch of factors that make them more intrinsically appealing than, say, Detroit or Camden.

I started my out-of-state investing like many people – with a vacation property. One property in Florida led to another; then it was Virginia Beach, then another, another. In all sincerity, I buy these properties probably because of wanderlust. Whenever I vacation somewhere, I always envision living there full-time, and to me the best way to plan for that eventuality is to own something in the community.

Over several years and scores of additional properties, I have developed strong systems (golly, I hate that word…it sounds like I should be promoting one of those late-night infomercials) for locating, acquiring, financing, selling, renting, and managing remote properties. In fact, many of my units I’ve never even seen! That may seem crazy – and it probably is unless you know what you are doing. This place exists to show you how.

A large part of this blog will be part educational/training in nature. Another facet will be to provide you with resources ranging from real estate agent contacts to financing to other valuable tools you’ll need to be effective. I’ll profile locations and their markets. Finally, to provide edification, I’ll narrate deals I’ve been involved in, or which I am pursuing so you can see, first-hand, how they are done.

I’m glad to have you on the journey…it’s going to be an exciting one!

Bill Flood