
14 January 2025 | 3 replies
First you have to face the local municipalities & will be extremely difficult to get the zoning approved.

11 January 2025 | 7 replies
A buddy of mine who invests out in Phoenix once had a client facing a similar timing mismatch on a rehab project.. they ended up working closely with a local credit union who was more open to interim valuations.

9 January 2025 | 16 replies
Glad you have experience investing locally.

14 January 2025 | 4 replies
You could even try reaching out directly to local agents or small real estate firms.

24 January 2025 | 36 replies
Mine was also out of state, in a town I’d never visited, and I relied heavily on videos from my agent.This sounds like a tough first deal, but it seems like you have some capital on the side, which will be useful as you face the upcoming challenges and learn from those expensive early mistakes.Regarding the subject of this post, “help me adjust my expectations,” I’d recommend assuming that; repairs will cost twice as much as you estimate, maintenance and vacancy rates will likely double from your initial projections, there’s a very real chance you may lose money on this deal.That said, there are ways to mitigate these risks by:- Keep asking questions here on BP and connecting with local experts- Stay proactive and communicative with your agent and property manager.And remember “Inspect what you expect.”Im not trying to discourage you but to help reset your expectations.

11 January 2025 | 11 replies
Second, I'd connect with some local hosts in your area also in addition to Airdna.

16 February 2025 | 29 replies
i like your idea to stay local.

13 January 2025 | 0 replies
It wasn’t ideal, but it was the only way to keep the deal alive.I made the drive to her small town, met her at a local bank, and had the paperwork notarized.

12 January 2025 | 12 replies
For your out-of-state BRRRR plan, building a strong local team in St.

9 January 2025 | 15 replies
Nonetheless, it was made possible by a local credit union.