For those who invest remotely and scaled their business, how do you do it?

[Diana Tran]

I was wondering what is everyone's set up.

We have the basic things set up such as having a LLC, realtor, and a broker. We went under contract twice but we haven't bought anything yet. Plan is to start with a multifamily house, or a single family with an in-law suite in the back. The challenges we run into is trusting the realtor and the realtor's inspector to fully disclose all the problems with the property...to basically be our eyes and ears. We noticed there were some major problems not brought to our attention until towards the end of the contract where we were under pressure to make a decision.

Since this is all done remotely, how did you set up a reliable system or team to be your eyes and ears from start (property search) to finish (to closing on a deal) and who are they? OR do you actually take a trip to visit all properties then decide? 

We're thinking we'll need a buyer's agent, a lawyer in Tampa, and a inspector to do pre-inspections before we ever decide to put in an offer. What are your thoughts? 

Ideally, we'd like to buy multiple properties this year and do minor cosmetic work if needed but since we're all remote, we can't do any flips. So strategy is buy, rent out rent it out, and sell 3-5 years down the line.

[Chris Seveney]

Quote from @Diana Tran:

I was wondering what is everyone's set up.

We have the basic things set up such as having a LLC, realtor, and a broker. We went under contract twice but we haven't bought anything yet. Plan is to start with a multifamily house, or a single family with an in-law suite in the back. The challenges we run into is trusting the realtor and the realtor's inspector to fully disclose all the problems with the property...to basically be our eyes and ears. We noticed there were some major problems not brought to our attention until towards the end of the contract where we were under pressure to make a decision.

Since this is all done remotely, how did you set up a reliable system or team to be your eyes and ears from start (property search) to finish (to closing on a deal) and who are they? OR do you actually take a trip to visit all properties then decide? 

We're thinking we'll need a buyer's agent, a lawyer in Tampa, and a inspector to do pre-inspections before we ever decide to put in an offer. What are your thoughts? 

Ideally, we'd like to buy multiple properties this year and do minor cosmetic work if needed but since we're all remote, we can't do any flips. So strategy is buy, rent out rent it out, and sell 3-5 years down the line.

 Never buy a property without putting your eyes on it, if you are spending htat much money get on a plane or in the car and view the property yourself. The cost of the trip will save you a lot more than something your realtor or someone else missed. They are not meant to be and have no legal responsibilities to be your eyes and ears.