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Hi fellow investors,

I am based in south east just outside of London and have recently remortgaged a property in the east midlands, so I have some funds to invest with. Unfortunately this doesn't really stretch for anywhere within an hours drive of where I live. Do any fellow investors who are investing further a field have any areas where they've had some success and any tips on how to go about it without too many pitfalls? 

Thanks

Jamie

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Hi Jamie

Whereabouts in the SE are you based? Depending on the funds available, you might be able to pick up a flat around Medway area, the likes of Chatham, Rochester all the way across to Gillingham. Some areas a still a little rough but there might be something decent near the town centre? 

Otherwise, you can always head up north like a lot of other priced-out Londoners. A 2 and a half hour train journey from Euston and you're up in Manchester/Liverpool. There are the closer places like Birmingham/Nottingham You can visit the areas and agents you're interested in, walk the streets, build rapport. Then once you're comfortable, view and make the offers as usual. If you can't make the viewings, you can always hire someone like Viewber or a local sourcer to view on your behalf. 

Pitfall-wise, you can't be as hands on as you would being a local. This might mean missing out on some properties as you're not always there viewing, and takes a bit longer developing relationships with agents, builders etc. But you balance that out with lower entry costs compared to investing in the SE/London, so if you have the time, you can always make the trips up there. 

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