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Updated over 4 years ago,
Long Distance investing. Recommendations for assembling a team.
Hey BP community, I've been looking more and more into out of state / long-distance investing for my first property and wanted to get a sense of how others have handled starting out in this same direction. I have a pretty good sense of my criteria (price, deal size, and geography) - I'm looking at SFH and smaller MFH (2-4 units) in the Columbus, OH market. My next step is to assemble a team that can help me make the right decisions and be my boots on the ground, but that's where I'm getting a bit overwhelmed...
I know I can search and network through BP, even get some recommendations from other members here, and research to death on Google to find a seemingly endless amount of lenders, property managers, agents, lawyers, etc., so I'm curious how others made a decision on who to go with and why? What criteria do you look for in each of these "team members"? What are key questions to ask? Is there such a thing as "finding the right ones"?
I guess I'm struggling a bit with the paradox of choice / choice overload, which is leading to a bit of paralysis. Hoping to get a bit of guidance so I can get my team organized and set myself up for making my first purchase.