Remote Real Estate Investing

[Mark Barton]

Hello everyone.  First time poster on Bigger Pockets and relatively new to real estate investing.  Really pleased to potentially make all of your acquaintances. 

I've been doing a lot of research, increasing my understanding, and attempting to find the type of investing that I will be best suited for and I keep coming back to the BRRR strategy as a good fit. I have good understanding of the construction process, have a decent flair for numbers, and really like the idea creating value.

My analysis of my home market and other markets and has lead me to believe that I will be much more successful in remote areas. One question I've had a hard time answering is: Can BRRR be done entirely (100%) remote? Specifically, the portion that involves taking possession, securing, rehabbing, and renting?

I've been thinking about this a lot and I've come up with some creative ways that this might be accomplished but I'd love to hear if this has been overcome via property management or some other mechanism and is commonly used. 

I really appreciate your thoughts and wisdom on the matter.

[Mark Barton]

Friends.  Thank you for your well thought out responses.  I take every bit of advice from those that have gone before me very seriously and I hope to be in a similar position to help others as I learn and experience more.

@Simcha Davidman You hit it right on the head.  I'm primarily interested in the mid-west because finding homes to rehab and add value seems fairly easy compared to my backyard.  Don't get me wrong, these exist in the SLC area but even a unit that has a high level of damage, is still going for over 200k is seems.  I'm saying this carefully because obviously deals can be found anywhere, they just don't seem prevalent compared to places like Kansas City MO, Harrisburg PA, etc... additionally, finding properties that will rent using the 1% rule don't to be very common either.

However, you did mention something that is also the root of my concerns doing this remotely and that many of these are higher in crime and likely have less reliable tenants.  Not being from those areas, It's difficult for me to differentiate which is which and I appreciate that risk and would obviously like to avoid it.  Sounds like another reason networking and a team is crucial.

@Don Spafford Hi Don!  Thanks for responding.  I'm actually originally from (<8yo) Idaho, specifically Pocatello and believe those to be great areas.  I believe I will reach out to you.  I had reviewed those areas and wondered if others has been successful there.  I'd love to hear your experience in that market.

@Mitch Smith Thanks Mitch.  I'd love to hear your story. Sounds like you've had quite the ride.  I'm just now finishing up David Greene's books and his sections dealing with needed team members is very enlightening.  I'm starting to build some goals around this now.  Any additional suggestions you have around this is always appreciated. 

@Tom Ott Thanks Tom.  That seems to be a common theme here as well as in many of the books that I'm reading around this.

Cheers