Hello Bigger Pockets community. This is my first post.
I want to ask away about investment employment versus joint venture.
Is there a market for a joint venture partner who literally just travels across the country on call.
The major focus of the work would be to inspect properties both owned and potential acquisitions. The other benefit of having someone travel to remote locations are to have a presence during major construction projects and to initiate and interview and inspect property managers.You would all know better than I would if there is value here.
It's my goal to do this kind of work for someone else with a decent portfolio for around 45 k a year while I gain the confidence and the skills to invest myself. It sounds affordable and useful, and can save that much in a month or two safeguarding flips against bad contractors.
As it stands, I'm looking into home inspection certifications and requirements. We all know that certifications are nice, but in the end good results trump good credentials.
The average home inspector charges something like 200 - 400 dollars a day with certifications in my area. It seems they check for visual, electrical, moisture, mold and gas.
If it really is that simple than soft inspections can be done much cheaper and faster and more often by a trusted but non - certified joint venture partner.
While I'm in the area I can do a demographic, a title, and a infrastructure forecast search. I can also check for property managers, long term maintenance contractors and short term renovation contractors.
It would take a week or two to drive to any spot do the whole look around and drive back with a complete report on the property.
I'm thinking you could run a decent 2 week road trip across the country for 1500 dollars. After that its affordable to book as many stops along the way as you like.
If you could keep the leads coming in every month or two it would be worth a good deal. If you could inspect 5 properties a trip and close one, you would close 1 a month. Bonus points for multiple properties in the same area.
I'm not trying to talk just to myself. I would love to hear if this is a viable service. Any pointers would help.
This train of thought gets me going. It's an exciting thought for a young guy like me to be on the road making money doing truly solid and valuable work.