Updated about 5 years ago on . Most recent reply
Distance Investing in Multi-family Properties
Hey all,
I am a Real Estate investor in Barrie Ontario, Canada and I have been working to put together a team in Sudbury Ontario to take advantage of the lower cost of real estate. So far I have been working on putting together my "core 4" and have built a good network of professionals that I think can/will handle the jobs I need. I am focusing on multifamily properties using the BRRRR model. I currently have not made any offers and have reviewed a number of properties that sold before I was able to do so. However, I have found a number of properties that I am interested in. That being said there is a part of the process that still escapes me. Walking the properties to determine the needs
My question is; As my current schedule makes it impossible to get up there for a personal walk down of all the potential properties. How do I go about determining the rehab costs of a given property, so that I can make an educated offer? I am itching to start this next step in my investment journey, but I want to make sure I am doing it right. I am also not in a rush to get into the wrong deal. Any guidance is appreciated. (i have read the bigger pockets BRRRR book, and am currently reading the distance investing book.)
TIA, Adam.
Most Popular Reply
@Adam Murday I would not miss out on deals, due to the fact you cannot walk through them. If the numbers make sense, get it under contract, then do your due diligence. Speed is king!