Making connections while living out of states

[Isaac Geller]

Hi friends!

I am a newbie living in Israel, been a member in BP for about 2 months now. I tried focusing in the Atlanta market but it turns out that you need about 100K to start investing there, while currently i can get 50-60K to start with. My main investing plan is start with flipping to expand my financial abilities, and slowly add rentals to get constant  cash flow. I want to focus on 1-2 markets for the near 5-10 years.

I some cardinal questions I am dealing with:

1. Do you know a market that 50-60K are enough to start making flip deals (Did some research and foun Cleveland is pretty cheap now but not sure how cheap)? If not I will be really happy to get an advise what to do then (really want to getstarted!!)?

2. This question is mostly directed to long distance investors. How do you find agents, PMs etc. in a distaned area? and more importantly how do you develop trust? how do you know that when a wholesaler offers a deal and says it's a good one, that he is honest? I an really interested in creating long term relationships with good and serious people in the market i choose to invest in, I am jist afraid that untill you know your market well people will take advantage and con me.

3. What books are recomended to long distance investors? I want to focus on what i need to know from my specifןc point of view (as i won't be the one in charge of managing the rehab myself) and get some insights of how I can be effective and proכessional (I am sure tht some long distane investors are!).

Thanks!

[Vince Lucas]

@Isaac Geller Welcome to BP! There is a wealth of information on here. It is possible to start investing in the cleveland market with about 60k. With the said you will be limited in your search (you might want to see about use more funds. It is never a good idea to invest on a budget).  Also, more important than the money is the knowledge.  Although, The Ultimate Guide to Grading Cleveland Neighborhoods gives a glance at the cleveland market it obviously does not go into great detail and does need someone to interpret more information for you. It can be tough trying to find boots on the ground that have your interest in mind and not try and sell you on every deal or one that they might represent. It is best to have an impartial consultant in the area you are looking to invest. Wish you the best and hope you find what you are looking for.