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Updated almost 7 years ago on . Most recent reply
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anxiety over out of state investing
I've been planning on getting a deal done. initially I was going to invest in an airbnb (out of state with people I know) but those plans fell through.
After reading David Greene's book on Long distance real estate investing I wanted to give this another shot. I'm planning on investing in Florida (Tampa) - but I'm now having some anxiety over the process -- primarily finding a contractor. I have had difficulty having people come to my home for work, how will this work in another state where I don't know anyone!
I think I just wanted to vent and say this out-loud (or type onto this forum). I'll take some deep breaths and try to trust the process and hopefully not lose any money
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- Lender
- Lake Oswego OR Summerlin, NV
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OK I am going to be a contrarian here.. I personally and that is PERSONALLY cant agree at all with the advice of thinking for a first time investor its as simple as finding an out of state team to do rehab etc. I think this has a better than 50% chance of losing big money.
it sounds great and it sells books and is a popular pod cast I mean who does not want to do this and save money.
This is simply not reality..
the chance you can ONE off find all these folks at a PRICE you need to .. is remote at best.
I just cringe at that pod cast and book.. but again personal opinion and i am sure many think i am nuts.. LOL
- Jay Hinrichs
- Podcast Guest on Show #222
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