Investing from my chair
The only obstacle that I have encountered since I began my investing career was inspecting all of the units but that problem was QUICKLY solved. Have members on your Power Team do it!
Being in a wheelchair does not have to stop us from investing in property. We can do all the research from home using our own computers and the information we need about the physical condition of the property we have our trusted power team for that.
When you are interested in a property you start to do research on it without leaving your home.
Research you can do is
What the property is worth
How long that property has been on the market (Days on Market or DOM )
What properties like it have sold for (Comps)
And also your real estate agent can help you with the days on the market and the comps.
After you do your due diligence you want to find out about the physical condition of the property and that is very simple and can be done even if you are in a wheelchair. You just get all the info about the property from your trusted real estate agent and contractor. What I like to do is have them take some photos of the units so that way there I can see for myself and sometimes I have them use a video camera.
Your power team consists of people you trust and work with. A good power team consists of a
Lawyer
CPA
Real Estate Agent
Contractor
Title Company
Mortgage Broker
Property Inspector
Hard money lender
Insurance agent
Appraiser
Now is the time to take action and start investing.
There is no limit what your mind can do.
Comments (3)
Awesome! Very nice story.
Carlos Flores, over 12 years ago
Hi Jeffrey, I use the same title company just because after use them a few times i received a discount. As far as the appraiser I use which ever has the most experience in that market.
Matthew Celeberto, almost 13 years ago
It is good that being in a chair has not stopped you from REI. Do you find that you use the same title company? I try to stick to 2 or 3, but when you are buying REOs the seller gets a discount through the shop they use. Also, what are you using the appraiser for?
Jeffrey K., almost 13 years ago