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Updated about 5 years ago,
Virtual Wholesale | Finding Good Contractors & Property Managers
Hi Everyone,
I'm in the process of my first virtual wholesale deal (the others have been in-state transactions), so I'm looking for advice on how to find good contractors, title companies, transactional lenders and property managers. Here are some quick details:
- The property (duplex) is located in Lake Charles, LA (1-mile away from McNese State University); I live in Houston, TX and my potential end-buyer lives in Los Angeles, CA.
- The deal has multiple exit strategies available: BRRRR, buy & hold and "wholetail" just to name a few.
- My potential end-buyer is new to out-of-state investing, so they need help with finding a credible contractor and property management company to secure the investment.
- I have a great title company locally in Houston, but they do not perform closings in Louisiana - huge bummer... they're amazing!
My questions:
1. How do I find an "investor-friendly" title company (or attorney) to close this deal? Preferably one that is familiar with double-closings.
2. Do you have suggestions on finding a reasonable/responsive general contractor for out-of-state investors? Even better - do you know anyone in (or near) Lake Charles, LA?
3. Same question as #2, but in regards to property management companies.
4. If I need to purchase the property myself (which I'm comfortable doing given the potential ROI), do you have suggestions on good private/hard-money lenders willing to fund the deal?
Any advice will be greatly appreciated. Thanks!