Out of state brrrr. How can I oversee the renovation process?

[Jason Pi]

Hello BP investors,

I am living in the NYC area and the price and tax here is insane for rental properties. I started to look for out of state opportunities. At first, I was trying to find turnkey providers but found out that the rent to price ratio is too low to make meaningful return. Therefore, I tried to reach out to some real estate agent and property management company to find some discount deals. Right now I am planning to buy a property that would require approximately 20k for renovation. However, I am not sure how I could oversee the renovation process and check the quality of the work. Shall I ask property management company to do that? My agent said she could oversee the process but will need to charge 10% of the total expenditure of the renovation for that. I think I am ok with the extra fee but want to get some advice from the BP community. Thank you in advance.

[George W.]

Paying a real estate agent to oversee an out of state rehab sounds like a recipe for disaster.