How do you vet distant professionals?

[RJ Emmett]

Hello, The housing market in my local market is pretty hot right now and finding an investment property has been a challenge. So, I have been looking in other areas of the country (USA). I have been talking with a turn-key wholesaler who brings "everything". Investment, lender, contractor, property manager, etc. Pretty much sign off on the lending and you have an investment. My fear is I sign paper on a property that doesn't exist, the contractor charges $50,000 in rehab charges on a property that didn't need anything. Or the property manager has a history of stealing client rents to support her drug habit. How do you vet the people you need helping you when you're hundreds or even thousands of miles away?

[Joel Owens]

You might look into larger companies such as Chris Clothier with Memphis Invest and Dallas Invest. He has been around a long time.

The prices may or may not be what you are looking for. Some investors chase cheaper properties sub 50k and buy from afar. Make sure you visit the areas and investigate the property and do research on the company. Any rehab should have pictures showing each step.

People that tend to be true and authentic hide nothing. Those that make up reasons why they can't show this and that tend to hide behind smoke and mirrors.

Investing in real estate is a relationship business more than anything. Nothing ever goes perfect but generally it is the integrity of the company and person that matters in times like that.