All Forum Posts by: 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.

1 Vote

Quote from @Jimmy Lieu:

Quote from @Caleb Benedict:

Any and all help is appreciated and I am also open to any and all advice and partnerships. Thanks again BP!

Caleb

Hey Caleb, doing long distance flips can be challenging but it's definitely possible and worth it if the numbers align and you have flexibility! I have personally worked with a lot of OOS investor clients who have done successful long distance flips here in Columbus Ohio. When assembling a team, consider local real estate agents, contractors, and property managers. Building a network through industry events and online platforms can help. Establishing trust is crucial, so check references, ask for referrals, and consider visiting the area if possible. As a local investor and agent here in Columbus, let me know if you have any questions or want to connect!

Hi Jimmy, would love to connect!

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Quote from @Remington Lyman:

Quote from @Caleb Benedict:

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!

1 Vote

Quote from @Andy Sabisch:

You can make money doing long distance flips but it is not as easy as the posts you see online would lead you to believe.

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?

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Any and all help is appreciated and I am also open to any and all advice and partnerships. Thanks again BP!

Caleb

2 Votes

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!

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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?

Post: Out-of-state flipping- how do you go about it and is it even possible?

Post: Out-of-state flipping- how do you go about it and is it even possible?

Post: Out-of-state flipping- how do you go about it and is it even possible?

Post: Out-of-state flipping- how do you go about it and is it even possible?

Post: Best CRM/Other Tools for Real Estate Wholesaling