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b'What does it take to successfully invest in multifamily properties out-of-state?\\n\\xa0\\nAnthony Scandariato shares his experience breaking into out-of-state real estate investing and acquiring his first property in Clearwater, Florida. Learn how he evaluated the Tampa market, performed due diligence on the property, and built a local property management team to oversee it from afar.\\n\\xa0\\nPrior to forming Red Knight Properties, Anthony Scandariato who graduated from Cornell University with a Bachelor\\u2019s degree in Applied Economics and Management, was a Co-Founder in Ridgeview Partners. He specialized in the retail space with a vertical model that provided flexibility to serve multiple customer segments with similar product lines through retail, wholesale, and production contracting channels. He Acquired and developed growth of 110+ retailers within first-year operations. He later moved on to Acquisitions & Asset Manager Vice President for Vision Properties, where he was directly involved and responsible for sourcing, negotiation, and managing the acquisition of $594MM of Class A office assets.\\n\\xa0\\n(00:00 - 06:00) Opening Segment\\nAnthony began investing in his local New Jersey market, building a portfolio of around 70 units before expanding out-of-state.\\nAnthony and his partner acquired their first out-of-state property just over the PA border, about an hour drive from home.\\nTheir first major out-of-state purchase was in Clearwater, FL. Anthony already had some familiarity with the Tampa market from previous commercial real estate experience.\\n\\xa0\\n(06:00 - 09:00) Evaluating the Clearwater Property \\nThey partnered with a local to the property for initial evaluation before visiting themselves.\\nAnthony spent a full day walking every unit, taking photos, and making notes on conditions using a property inspection app.\\nHow Anthony verifies the accuracy of the seller\'s renovation claims and watches for any major structural, environmental, or maintenance issues.\\n\\xa0\\n(09:00 - 24:00) Assembling a Local Team \\nTo properly manage out-of-state, Anthony likes to start with at least 100 units in a market to have a sufficient team.\\nHe looks at labor market factors to ensure there\'s enough of a talent pool to hire quality on-site employees.\\nIt\'s crucial to have trusted partners managing each property. They\'ve had to replace existing staff at new acquisitions.\\n\\xa0\\n(24:00 - 29:00) Closing Segment:\\nBest Investment: Marrying his wife\\nWorst Investment: Junk Food\\nThe most important lesson is to have good partners, partners you can trust.\\n\\xa0\\nQuotes:\\n"If you\'re considering going out of state, me and my partner do day trips, so we\'ll get on a 6 a.m. flight, or whatever, the earliest flight that we can, and then we\'re back home to hit the pillow." - Anthony Scandariato\\n\\xa0\\n" Environmental is a total deal breaker; you can kind of tell when it\'s always a little bit desperate too." -Anthony Scandariato\\n\\xa0\\nConnect with Anthony:\\nwww.redknightproperties.com\\n\\xa0\\nApply to Invest with Taylor at\\xa0www.investwithtaylor.com\\n\\xa0\\nTrack your wealth for free with Personal Capital, go to\\xa0www.escapingwallstreet.com\\n\\xa0\\nPlease leave a review and help others escape Wall Street and build wealth on Main Street!'