I was just wondering how does that go for you.
The distance investing model is starting to really take off. It requires common sense and a lot of research to pull it off. Just as you need to have an in-depth understanding of your local real estate market, it’s even more critical when you do it from a distance. You can get market reports from a company like Hendricks and Partners for free and learn all kinds of juicy details about markets cross country (depending on what reports you get).
You can put together a team to help you out from a distance – virtual assistants to help you find leads, attorneys, appraisers, contractors, etc.
You’ll be more reliant than ever befor on the expertise of others, but you can invest in the best areas instead of making the best of your area. Your area might be ideal, but some parts of the country don’t make as much sense. You can invest close to home – and from a distance – and reap the rewards of both strategies.
There are some drawbacks, but nothing that can’t be overcome. Then again, there’s no place like home.
Either way, investing is the roadmap to your pot of gold.
Good luck!
Peter Vekselman