The core 4 is David Greene’s long-distance investing strategy and consists of a realtor, contractor, property manager, and lender.

.: @Jenat Higaa true 'private' lender is someone you know - your dentist, your uncle, someone you work with, someone in a business mastermind with you.so if you need to 'vet' a private lender... they're not a private lender. 

A business partner and I are working together to start investing in distressed properties with the goal of eventually flipping and renting apartments.

A few things with this strategy, He is going to be retired, so he would need to be able to qualify for the new purchase using his retirement income on an investment property purchase.

Options may include traditional mortgages, private lenders, partnerships, or even self-directed IRAs.Calculate all potential costs including property acquisition, renovations, property management fees, taxes, and maintenance.Property Selection and Due Diligence:Use your local team to scout properties that match your investment criteria.Conduct thorough due diligence including property inspections, financial analysis, and reviewing rent comparables (rental rates in the area).Make Offers and Negotiate:Submit offers based on your research and due diligence.Negotiate terms that are favorable to your investment goals, taking into account potential repairs or improvements needed.Close the Deal:Once your offer is accepted, work with your local team to complete all necessary paperwork and close the transaction.Ensure all legal aspects are handled properly, including title searches and property inspections.Manage Property Remotely:Hire a reputable property management company to handle day-to-day operations such as tenant screenings, rent collection, maintenance, and emergency repairs.Establish clear communication channels and expectations with your property manager.Monitor and Adjust:Regularly review your investment performance and financial metrics (cash flow, occupancy rates, expenses).Stay informed about market trends and adjust your strategy as needed to optimize returns or mitigate risks.Long-Term Strategy and Growth:Evaluate opportunities for portfolio expansion or diversification in the same or different markets.Continuously educate yourself on real estate investing best practices and market dynamics to make informed decisions.By following these steps diligently and leveraging local expertise, you can effectively navigate the complexities of out-of-state real estate investing and build a successful portfolio over time. 

You might end up paying a few hundred dollars a year to the state you set it up in, and the state you are actually doing business in. 

I’m going to check this out I registered on the small business portal through Invest PR and I’ve done some research on act 60 but will be sure to reach out with best practices in REI on the island.

Any opinions out there on if I would have any legal right to get the earnest money returned to me or should I just be happy he is willing to let me out of the contract and consider the $2,000 em cost of doing business?

Willing to exchange my willingness to cold call and make sales calls for your advice and feedback on strategies and techniques.Best/Connie 

"The worst kind of Business is a Partnership."