All Forum Posts by: John Salcedo

@John Salcedo Welcome to BP.

I will give you a contrarian opinion. Why do you want to invest out of state? Investing in distant markets increases your risk and/or increases your costs. 

The best deals go to those that know and understand their market the best. How are you going to learn about other markets without going there or trusting others? It is WAY to easy to take advantage of out of state investors. 

Welcome to Bigger Pockets, John! I'm from Florida and moved to the Columbus market after seeing the massive growth coming to the city. 

If you’re looking to invest long distance, I definitely recommend building your core-4 team. This team consists of an Investor Focused Agent, Lender, Contractor, and PM.

Read this article on the "core 4". It explains the team that you should develop to have a strong foundation under you while investing remotely.

https://www.biggerpockets.com/blog/core-four-real-estate-team

I’d be happy to connect and chat anytime!

Hi guys, I'm new but I do a lot of research. I have put in over 100h and feel confident I know what I'm doing from a functional standpoint. I don't have a team and need to build one. Before I start calling everyone in the metro area and interviewing them I figured I would come to you fine folks for recommendations or advice.

I need a good PM, contractor, handyman, and an agent. I'm unlikely to sell anything and plan to either fix and hold or buy turnkey. I am also not super flush with cash and won't be doing a ton of deals right away, so I might not be worth the time of a big player. I am perfectly happy working with a PM or Agent who can handle everything for me from start to finish, but am skeptical and want references. I understand these services cost money and have no problem paying people for their work. Everyone's gotta eat.

I want someone who is going to hold the handyman/contractors accountable and validate that they are completing work on time and up to standard. Videos and photos of the work as it's being done are a big help. I need people who understand my perspective and will not fight me on holding them or others accountable. Trust is earned, as the relationship grows I will be less nosy, but early on I might be annoying and someone who understands that and will put up with it is a must. I am not unreasonable, just afraid of losing money halfway across the country trusting people I don't know.

If anyone has any recommendations in the area I'm all ears. If anyone has any alternative suggestions for me or words of wisdom I'm always open to learning more.

Thank you all for reading!