All Forum Posts by: Roee Hazut

Wow Thanks a lot everybody, all of your comments and advice are definitely helping me to get more clear about many aspects of both options !!!

@Even polaski thank you, it's definitely helping to expand my perspective about this subject.
the question Im asking my self is: because the market in my location is so high right now and very little of supply it make incredible challenging to actually buy an investment property's, how can I actually do it right here in my market? (and i'm definitely prefer to build it right here next to me where I know people and can have much more control over the project)

Thank you @Lynnette E this is my main concern is how can I fully trust people I never met or that we worked together in the past.

still looking for solutions.

Recently I had the opportunity to speak with two investors, they are both in their 60’s and both of them have managed to create a great financial freedom for themselves and their families. I was really happy to have this moment to learn from them and to educate my self.

Because the market here is at the top of the k wave it doesn't make sense for me to buy my first real estate investment here (BRRR), so I asked both of them what they thought about investing in other states, in markets with lots of opportunity right now. The answer from both of them was

"I never invest out of state,” and one of them even told me that "it’s a really bad idea.” That was very discouraging for me because in my eyes they are both very successful and they have created exactly what my vision is, as far as the real estate. Because of this it was strong for me to hear that while I’m creating new relationships in other markets in other states and looking for my first deal.

l already read the book "Long Distance Real Estate Investing" by David M. Green (really important one). At the beginning of the book he explains exactly this about the older generation, that some them have a “paradigm" of not investing out of state.

Of course there is a risk in every investment and there are a few additional parts in the puzzle of long distance investing that need to be mastered in order to lower the risk.

I would love to hear your opinions and experiences with investing in other states. If this is my first deal is the consideration different when thinking about investing out of state?

Do you also prefer to invest only in your local market like many people or do you work wherever the opportunity is?

Thank you in advance!

Roee

@Marcus Maloney Thank you ! for giving me bigger picture on this case ! for sure its help.

is it not true that all purchase contract say that you must have a licensed contractor due the inspection? 

is it my responsibility to change this part in the purchase agreement, so the inspection can be done by anyone I choose to?

@Barry Pekin thank you ! for helping me clearify this point. 

question:

1) As a wholesaler do I need to do inspection after I have gotten the property under contract ?

Or the cash buyer that is buying the property from me does the inspection ?

2) How to wholesale in other states without being able to see the properties ? 

Any good advice or tips for managing wholesaling business in other states ? 

Thanx in advance.