Advice for a First-Time Remote Flipper?

[Kumar Suppiah]

Hi fellow BP members,

I am an overseas investor who's wanting to do fix and flip of SFH. I'm new to US REI. I have a property under contract in KC,MO and I have the majority of the requirements lined up to close. However, I am concerned about managing the rehab process remotely. 

I would appreciate any advice from experienced investors on tips or techniques to manage a rehab process remotely. Others have advised to partner up with someone in-market who's experienced with flips. I'm also wondering if I should attempt to hire a project manager on a part-time contract ish arrangement. 

Optimally, I would like to learn how to manage the rehab process remotely by myself but that seems unrealistic at his point.

[Noah Wasserman]

I have a lot of experience with out of state investors. I specialize in flipping for out of state flippers. One thing I will mention is that you should go more 'retail' with your contractor as mentioned. Make sure that the contractor values investors. One thing that I see, is that a lot of GC's are greedy, and don't respect long term clients. If he understands that you are a wholesale customer ie, will do quantity, than he should treat you that way. You should have slightly lower prices, and he would not want to make a stupid mistake and screw you. Another thing is that with a great contractor, you would not need a project manager. You might want to ask your real estate agent, and if you don't have one, find one that you promise will get the listing, and let them just check on your first project. You can also get your contractor to get you weekly updates with pictures that help. 

If you are located in Florida (West Palm Beach, South Florida, or Port St. Lucie) let me know and I can help