When the cat leaves, the mice will play"As an out of state investor, the mice are always playing.It takes years and years to develop trustworthy relationships with feet on the ground.Even then, you will loose money just like we do to this day in Toledo to shady contractors, etc...And we have a whole team of people on the ground including myself and my co-founder.Granted, if you do it right you can find amazingly cheap deals, renovate and have immediate equity plus jaw dropping cashflow.I would advise moving to the market you are considering and getting your hands dirty for a few years.Easier said than done but if I moved from Sydney, Australia to Toledo, Ohio.Anyone can do the same lolWishing you much success

Recently someone told me about Preston Seo and how successful he has been using STR arbitrage, but I don't know much about him.

Make sure prospective candidates have the skills and knowledge necessary to manage your property by doing research on local property management firms and setting up interviews with them.You may set yourself up for success as a real estate investor in the Windy City by investing the time to thoroughly investigate the Chicago market, connect with industry experts in the area, and perform due diligence. 

Real Estate Investing is not hard.It is only hard when you do it wrong.Wholesaling becomes seriously easy the second you understand this one sentence.Your success depends on your ability to find motivated seller leads!

I recently saw a video on no-money real estate investing and I'm really pumped but I also want to be realistic and a good fit for my future real estate partner.Here's the link to that video if you're curious:There’s always money available IF1- The deal (investment) is VERY good, significantly better than the average deal2- The risk is lower than similar deals with the same investment return3 - The money partners are able to be totally PASSIVE - because the deal maker (sponsor) is experienced, educated, and honest.So, there are numerous ways to start, with some having a much greater chance of success than others.  

“Hero stuff”… sure but only because I’m doing what I’m doing for my family.2) Integrity and morality years ago… I made a killing… I made great money flipping paper, houses and doing sub-to deals.But after the dust settled I started questioning my financial success……  at the cost of others … for whom maybe after I made a lot more that I expected on a property, I could have sent some of those families a thank you ($$$).I didn’t.More recently I met with a lady who wanted to sell her mobile home and land … it was rough…She wanted.

Buyers have significantly more negotiating power.

I want to say what we "normally" do on successful BRRRR properties and maybe some of these things will help.Acquisition - Usually, we execute a BRRRR Method property with some type of temporary, acquisition loan.  

With the right team in place, you can be very successful.

As far as why it takes time to scale - the most common slow down I see is the time it takes to find the next property that checks all of the boxes to be a successful BRRR with numbers that will work.