Updated about 6 years ago on . Most recent reply
Long distance rehab question!
Hello all, Sorry if this has been asked before.
I'm currently in the gaining knowledge phase of real estate investing and one aspect has me concerned. I'm liking the BRRRR strategy but the key to success is to buy under valued properties which require rehab, in order to gain some "sweat equity" after the rehab. However my local market isn't very good, so I am considering out of state markets. So if I were to find a great property 1000 miles away that needs new floors, paint, bathroom etc. How I am suppose to oversee the rehab? I would need to take weeks off of work to schedule meetings with contractors to get quotes and then set aside time at a later date for the work to be done. I can't possible take off that much work. Is this is an area where a property manager can step in and oversee the rehab without the buyer (me) being present? Thanks!!