I encourage you to interview property managers to determine what their approach looks like when managing properties for an investor who does not reside in the market where the property is located. 

I am not a huge fan of them personally as they are PE investors and have a very, very narrow view of the industry and how it should be approached. 

Additionally, how many calls does it typically take you to successfully close a deal using this approach?

Success comes from consistent action and patience, so keep refining your approach and scaling gradually.Good luck!

Total profit less closing costs and commissions will be about 42,500 each or 85k total.I would for sure get a construction loan, may be worth approaching 2 or 3 different banks and getting separate construction loans from different banks. 

I want to work with great people, build long-lasting relationships, and help them grow their wealth while doing what I love.Here’s where I could use your insights:Raising Capital: What’s the best approach for attracting investors who are interested in partnering on real estate development and redevelopment deals?

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

It allows potential tenants the flexibility to explore a property at their own pace while still having the expertise and guidance of a realtor at their disposal.That said, I’m curious about your thoughts on this approach.

I feel like there’s a balance between being decisive and being reckless, and I’d love to hear how you guys approach this.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.