Long-Distance Real Estate Investing : How to Buy, Rehab, and Manage Out-of-State Rental Properties

Live where you want, and invest anywhere it makes sense. "It is a common misperception in real estate investing that you should buy only where you live. David Greene has put that myth to rest...This is a must-read for investors who want to expand their real estate empire nationwide." — David Osborn , bestselling author of Wealth Can't Wait Are you interested in real estate, but you live in a hot market that is not suited for buy and hold investing? Do you want to take advantage of wealth-building opportunities, but that seems impossible until the next market crash? Real estate investing is one of the greatest vehicles to build wealth, but it doesn't make sense in every market. Some locations provide incredible returns, while others make it almost impossible to find a single property that profits. Traditionally, investing out of state has been considered risky and unwise. But the rules, technology, and markets have changed: No longer are you forced to invest only in your backyard! In this book, real estate investor and police officer David Greene shows you exactly how he's built a multi-million dollar portfolio through buying, managing, and flipping out-of-state properties, often without ever even seeing the properties in person. David shares every tip, trick, and system he has put in place for over twenty rental properties, so you can avoid making mistakes and shorten your learning curve. Don't let your location dictate your financial freedom. Get the inside scoop to invest—and succeed—anywhere! Inside, you will learn: How to assemble an all-star team to handle each aspect of a deal from A-Z How to find great deals in any state, regardless of where you live How to rehab a project from thousands of miles away without worry or complication How to speak the language of the agents, contractors, lenders, and property managers you will use How to quickly and easily know which neighborhoods to buy, and which to pass in How to choose the best materials for your rehab projects and pay the least amount of money And much more! Why invest out of state? ; Don't trust your gut ; Disrupt the norm ; Investing in your own backyard ; The crop analogy The Power of the Internet. Finding homes through the MLS ; Finding property tax records ; Homeowner's Insurance online ; Ways to determine an area's desirability ; Determining rental rates ; Finding past permits ; Using your smartphone to manage your business ; Using technology to buy property sight unseen ; Smartphone apps in your business Rules and relationships ; Price-to-rent ratios ; Determine an area's price-to-rent ratio ; Alternative strategies to buy-and-hold ; Vacation rentals ; How to leverage relationships The first members of your team. The deal finder ; Find high-producing agents ; Agents with a team ; Ways to save time on your search ; An agent and an investor - my advice to you ; The lender ; Loans for investors ; How to find a lender ; How to reach out to lenders ; Alternative lending options ; The ease of electronic payments ; Supercharging your equity growth, the easy way ; Electronic rent deposits ; Leveraging financing ; Accurately reporting rental income The rest of your team. Finding referrals ; What to ask before hiring a property manager ; How to negotiate better terms ; Leveraging your property manager's knowledge ; The contractor Understanding your market. Tracking property values ; What to do when prices are rising ; What to do when prices are dropping ; Investing in down markets, wherever they may be ; Rental rates ; Anticipating rental rate increases ; Following employment trends ; Understanding your tenant pool Working with the market. Creating an apples-to-apples comparison ; Understanding return on equity ; Timing the market ; The "headache factor" and opportunity cost ; Improving your portfolio's performance ; Timing your lease renewals correctly ; Cash for keys ; Accept some headaches ; The 1031 like-kind exchange Managing out-of-state properties. Give your contractor incentive and maximize your results ; Create accountability through paying a bonus ; Creating accountability through advertising ; Paying for materials yourself ; Adding value by adding your own time ; Using your contractor's house accounts to save you money ; How to manage paying your contractor ; How to pay your contractor ; The partnership mentality Finding materials. R & D (rip off and duplicate) ; Finding design inspiration ; Getting samples from your contractor ; When the design idea is formed ; Determining the value of upgrades ; How to "hack" your contractor ; The upgrade hack ; Four simple factors to determine value ; Finance hacking Maximize ROI. Big lots equal big opportunity ; Buying bad houses in nice areas Tricks to find more deals out of state. Real estate owned ; Short sales ; NOD ; Half-finished houses ; Leveraging the listing agent ; Paying your real estate agent a bonus The long-distance investor. Live where you want, and invest anywhere it makes sense. Real estate investing is one of the greatest vehicles to build wealth, but it doesnt make sense in every market. Some locations provide incredible returns, while others make it almost impossible to find a single property that profits. Traditionally, investing out of state has been considered risky and unwise. But the rules, technology, and markets have No longer are you forced to invest only in your backyard! Experienced investor and real estate agent David Greene shares his in-depth strategy to build profitable rental portfolios through buying, managing, and flipping out-of-state properties. Grow your real estate investing business in any location. Build relationships with your team from miles away. Learn to recognize coming shifts in any market. Use technology to stay informed from afar. Apply checks and balances to ensure you find the best deals. Understand where to buy, where to avoid, and whom to hire for work. Dont let your location dictate your financial freedom. Get the inside scoop to investand succeedanywhere! "Real estate investing is one of the greatest vehicles to build wealth, but it doesn't make sense in every market. Some locations provide incredible returns, while others make it almost impossible to find a single property that profits. Traditionally, investing out of state has been considered risky and unwise. But the rules, technology, and markets have changed: No longer are you forced to invest only in your backyard! Experienced investor and real estate agent David Greene shares his in-depth strategy to build profitable rental portfolios through buying, managing, and flipping out-of-state properties."--Page 4 of cover