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Updated over 5 years ago,
Long-Distance Investing - is it really that straightforward?
I am just starting out on my investment journey, beginning with getting educated. Hoping to get some insights from some more experienced investors!
Because my market is expensive (Victoria, BC), I am considering long distance investing. I have listened to podcasts where David Greene has shared his experience with long distance investing using BRRR saying it's not that different than investing locally. However, I recently listened to show 63 of the podcast where J Scott shares his experience with long-distance rehabs. He says "The only thing harder than rehabbing at a distance is rehabbing at a distance if you're not experienced." J's description of long-distance rehabbing seemed to involve lots of travel, obstacles, and difficulty finding the right people to help him.
Can anyone share their experiences with long distance investing? Was it really so similar to investing in your local market? Would this strategy work for a beginner? Why might J and David have these differing perspectives?