How many people are doing remote control real estate here and succeeding? And some have not succeeded and do not recommend…
How many people do remote control real estate here and succeed? And how many did not succeed or recommend this way?
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It all depends on the type of transaction and the volume. If you do one or two years a year (of course only when you have a good team) there is no problem. If you do 3 / 4 at the same time you must be there. (I'm talking mostly about Flips).
Hi Moshe, from experience there is no way that as a beginner investor, when there is not yet a winning team that you can trust - I will invest without fully understanding what I am doing, and that includes flying and being in the field when necessary when I am a more experienced investor, shall we talk again?
I do it by remote control and it's very hard for me !!!
And I also have a brother who lives in the area and helps me verify things.
A very general question that depends mainly on the person himself, his character and the coincidences that are sometimes called 'luck' .. 🙂
I'm on the remote control, but with a great team in place. In my opinion, it is more suitable for the rectals of houses without too many mishaps.
Anything else, such as a flip or a major overhaul, I would not do on the remote control. In some cases, however, there is no substitute for personal presence.
Remote control - depends on investment strategy
Every situation needs a good team on the ground.
There are investments in which there is an excellent team (Flips), and there are investments that demand from the staff a little more "gentle," meaning that the investment is a bit less sensitive to staff failures
I think it is definitely possible. It all depends on who you work with and in your relationships with the local staff… There is no doubt that it is a priority to be in the place but not necessary. However it is advisable to travel occasionally, with an emphasis on the beginning, to see in the field how things work
All of the above refers to Florida only: from years of experience, people who tried to work alone, by remote control - lost their money.
I operate properties for investors from all over the globe (Israel, China, England, South Africa and also. Egypt), without someone local who knows the market, knows how to operate and responds in real time… You have no chance.
Works in Philadelphia, comes there three times a year for about two weeks each time... in daily contact by phone with the team... there are ups and downs like any business... by and large it works...
By the way, I'm doing a rantal
Flip I believe much harder
Doing in Florida and recommending, not Flip. It's all about the people you work with.
I made a remote control I lost. People took advantage of the fact that I was not there.
Today we are there ten days a month and we need more. We have two project managers and a team that works with us over time. Without presence it is not possible.