Long distance real estate investing

[Morgan Yang]

Hey guys, I’m totally new in the world of real estate investing and have some extra cash in hand that I’d like to invest. However, I live in the Bay Area and the real estate market is just incredibly expensive here. I’ve been listening to a bunch of the bigger pockets podcast and I know David Greene talks a lot about his core 4 when investing in other states 1. Real Estate Agent 2. Lender 3. General Contractor 4. Property Manager. My question is how do you establish a relationship w a trustworthy general contractor/property manager from afar? Does anyone have any thoughts? Would love to hear it! Thanks!

[Justin Cambra]

@Morgan Yang I’m a long distance investor living in Seattle and buying and rehabbing in Milwaukee and Detroit. After listening to tons of podcasts I started reaching out to people in the markets I was interested in via BP. If you set up daily alerts you will quickly find who is active on BP in your target area. I listened to the feedback and cross referenced with other people/trades. Ultimately the biggest learnings came down to taking action and getting into the game. Overtime you will find the core 4 as they will be the last people standing. By this I mean that they are so good you keep them instead of trying to find someone better. For example in Milwaukee, my core 4 RE agent was my 6th agent I used. Not that the other 5 were bad it is just that the 6th one works for me and we mesh well. 

Best of luck and let me know how I can help.