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Post: MGMT of Multi-family R.E. - investor moving overseas
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Thanks for replying so fast. I appreciate it. I admit that what i am trying to do may not make a whole lot of sense, but my main reason for inquiring is that me and my family are moving to israel at the end of august 2007 (which is a big deal in itself) due to career & financial reasons (we both have family in Israel as well as in the US)
I am a new RE investor who is interested in investing in commercial residential property (apartment buildings) with 50 or more apartments preferably in the NY area.
Since I am not greatly familiar with Israeli RE investing, I was looking to somehow invest back in the US (in the New York area where I live now) but hire a mgmt company to watch the property.
What I was not sure about is that - does it makes sense to deal with a mgmt company from 6000 miles away - is that INSANE or is there is someone who as a truted advisor who normally gets hired by a RE investor to make sure that the mgmt company is doing what they get paid to do when the owner is out of state (or out of the country) Or does this happen at all.
Am I trying to make this too complicated ?????
I admit that its a lot to tackle & it may not make sense to invest this way. I was trying to gauge if this is something that while it may not make sense, if it is fact doable.
:crying: Thanks for your comments.
Post: MGMT of Multi-family R.E. - investor moving overseas
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I am a new R.E. Investor who is just starting out and who plans to buy multi-family apartment bldgs in the New York City area. The problem I have is that I'm permanently moving overseas at the end of the summer. Although I will be traveling back and forth to the US from time to time, If I'm living overseas and natuarlly use a management company to take care of the day-to-day routine functions to maintain the bldg, can I hire someone ("resident manager") or someone in a similar capacity to watch the management company closely to update me that they are doing repair work that I pay them to do. I'm not sure if there is such a person who is hired by an owner/investor who watches a mgmt. company, since usually the investor watches the mgmt company directly. Am I thinking about a resident mgr or some other job title???? Thanks :crying: