David Greene's Long Distance Investing Book: Rehab estimations

[Joshua Paul]

Hello All,

I just finished reading the long distance investing book and I really like it and I want to use this form of investing to build my portfolio. I am so glad there are so many great investors on BP that are willing to share their methods with others. 

This might seem like a silly question that is probably best asked directly to @David Greene, but maybe some of you out of state investors could help me out. 

In the system that David explains in the book he explains the way that he gets the contractors to go take a look at the property and to give him a bid on the home after he has a property under contract. My question is does he have a contractor or another person look at it and estimate repairs before getting it under contract? Or does he get the property under contract then find out the repair costs and try to negotiate the price? If done this way would he be able to back out of the deal if he finds the repair costs to be too much?

Any help here would be great,

Thanks!

Keyword Alerts: out of state, long distance investing, repair estimations, contingency periods, rehab, and deal evaluation.