All Forum Posts by: Caleb Benedict
Caleb Benedict has started 2 posts and replied 6 times.
Post: Out-of-state flipping- how do you go about it and is it even possible?
- Posts 6
- Votes 5
Quote from @Bob S.:
Quote from @Caleb Benedict:
Hello BP! I am interested in fix and flipping properties in the midwest- Cleveland, Saint Louis, Columbus and Indianapolis. I've been researching markets for months, and I have created this pipeline of great wholesalers from these areas. I just came across a deal today which looks absolutely incredible. However, the problem is that I live in NYC. I want to know from those of you who are flipping out of state in the cities I mentioned (or just out of state in general). How did you assemble a team? How do you know who to trust (which is probably my biggest fear)? Is it even worth it, or even possible, to flip properties when you live a thousand miles away? I know that the general wisdom is that you should always flip near you, but if the numbers are really good and you have some wiggle room, would you do it out-of-state?
Any and all help is appreciated and I am also open to any and all advice and partnerships. Thanks again BP!
Caleb
It took me years to get a reliable team. I now have about 30 guys, unlimited deal flow and have done about 500 yes 500 over the last 7 8 years in the Cleveland markets, all while living out of state. I just put 7 more SF under contract last week. I will reno, and flip them this month all while living on the beach in FL.
All the best
Hi Bob that is incredible! Would it be possible for us to connect and I could grab 15 minutes of your time? I'm 23 and would love the opportunity to learn from you.
Post: Out-of-state flipping- how do you go about it and is it even possible?
- Posts 6
- Votes 5
Quote from @Jimmy Lieu:
Quote from @Caleb Benedict:
Hello BP! I am interested in fix and flipping properties in the midwest- Cleveland, Saint Louis, Columbus and Indianapolis. I've been researching markets for months, and I have created this pipeline of great wholesalers from these areas. I just came across a deal today which looks absolutely incredible. However, the problem is that I live in NYC. I want to know from those of you who are flipping out of state in the cities I mentioned (or just out of state in general). How did you assemble a team? How do you know who to trust (which is probably my biggest fear)? Is it even worth it, or even possible, to flip properties when you live a thousand miles away? I know that the general wisdom is that you should always flip near you, but if the numbers are really good and you have some wiggle room, would you do it out-of-state?
Any and all help is appreciated and I am also open to any and all advice and partnerships. Thanks again BP!
Caleb
Hi Jimmy, would love to connect!
Post: Out-of-state flipping- how do you go about it and is it even possible?
- Posts 6
- Votes 5
Quote from @Remington Lyman:
Quote from @Caleb Benedict:
Hello BP! I am interested in fix and flipping properties in the midwest- Cleveland, Saint Louis, Columbus and Indianapolis. I've been researching markets for months, and I have created this pipeline of great wholesalers from these areas. I just came across a deal today which looks absolutely incredible. However, the problem is that I live in NYC. I want to know from those of you who are flipping out of state in the cities I mentioned (or just out of state in general). How did you assemble a team? How do you know who to trust (which is probably my biggest fear)? Is it even worth it, or even possible, to flip properties when you live a thousand miles away? I know that the general wisdom is that you should always flip near you, but if the numbers are really good and you have some wiggle room, would you do it out-of-state?
Any and all help is appreciated and I am also open to any and all advice and partnerships. Thanks again BP!
Caleb
I recommend you read this article on OOS investing. It explains the importance of creating your core four. You will need to get a local, rockstar Realtor, contractor, lender, and property manager.
https://www.biggerpockets.com/blog/core-four-real-estate-tea...
I invest locally in Columbus, Ohio
This is awesome, thank you!
Post: Out-of-state flipping- how do you go about it and is it even possible?
- Posts 6
- Votes 5
Quote from @Andy Sabisch:
Personally, I would try to make it out to the area you are looking at investing in. Take a week and have an agenda laid out . . .see the areas to focus on and those to avoid. Plan to meet with some GCs and feel them out to see if there is a fit.
You have done the upfront work and found wholesalers in the area, do the same for tradespeople. Reach out and let them know what you are looking at doing - you will find some that love flippers for the steady work and others hate them - make sure you find the right one.
See if you can connect with some local REIGs and see what they are finding in terms or areas, market trends and most importantly, who they use for the trades.
Best of luck
Home great advice, thank you Andy! Have you tried doing it yourself before?
Post: Out-of-state flipping- how do you go about it and is it even possible?
- Posts 6
- Votes 5
Hello BP! I am interested in fix and flipping properties in the midwest- Cleveland, Saint Louis, Columbus and Indianapolis. I've been researching markets for months, and I have created this pipeline of great wholesalers from these areas. I just came across a deal today which looks absolutely incredible. However, the problem is that I live in NYC. I want to know from those of you who are flipping out of state in the cities I mentioned (or just out of state in general). How did you assemble a team? How do you know who to trust (which is probably my biggest fear)? Is it even worth it, or even possible, to flip properties when you live a thousand miles away? I know that the general wisdom is that you should always flip near you, but if the numbers are really good and you have some wiggle room, would you do it out-of-state?
Any and all help is appreciated and I am also open to any and all advice and partnerships. Thanks again BP!
Caleb
Post: Best CRM/Other Tools for Real Estate Wholesaling
- Posts 6
- Votes 5
Hello everyone,
I am a relatively new wholesaler and this month we are doing 5 deals hopefully more. And i am looking for a CRM system or any other useful tools to store buyers info, deals info, deals progress and invoice generation and communication with clients.
Any suggestion is very much appreciated!