Competing with local investors as remote investor

Buying & Selling Real Estate
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Competing with local investors as remote investor

Collin Emerson Miller
Investor · Member since 2019 · 53 posts · 7 votes

Hi BP community, 

I am a California-based investor looking to execute a fix-and-flip in Virginia and a hurtle I want to tackle is to form a strategy for competing with local investors.  So, how can a remote flipper compete with local investors? I understand that this can be difficult, but I would still like to hear an answer nonetheless.

Thank you!



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Jason Hirko
Lender · San Antonio, TX · Member since 2016 · 1k+ posts · 1k+ votes
5y

I think the biggest thing you can do is have boots on the ground wherever you are investing.Whether that is a Property Manager, contractor, realtor, or something else, having someone that is reliable and can do a Facetime walk through on a property goes a long way. If you haven't worked with someone like that before to have established a relationship (and reputation for yourself of actually following through on sending those people some business they have gotten paid on) consider paying someone a hundred bucks or something to go look at a property for you until you have established yourself.

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  • Jason Hirko
    Lender · San Antonio, TX · Member since 2016 · 1k+ posts · 1k+ votes
    5y

    I think the biggest thing you can do is have boots on the ground wherever you are investing.Whether that is a Property Manager, contractor, realtor, or something else, having someone that is reliable and can do a Facetime walk through on a property goes a long way. If you haven't worked with someone like that before to have established a relationship (and reputation for yourself of actually following through on sending those people some business they have gotten paid on) consider paying someone a hundred bucks or something to go look at a property for you until you have established yourself.

    4Reply
  • Joaquin Camarasa
    Real Estate Agent · Springfield VA · Member since 2018 · 480 posts · 400 votes
    5y

    I would like to know why you are picking Virginia and where exactly. All that @Jason Hirko has shared is correct. There is so much going on in a flip that doing remotely can be truly challenging. Only someone you fully trust will bring you the peace of mind to complete the job and provide you with solutions if problems arise.

    1Reply
  • Patti RobertsonBusiness Member
    Property Manager · Virginia Beach, VA · Member since 2016 · 2k+ posts · 2k+ votes
    5y

    What part of Virginia? What is your strategy to find a property to get under contract?

    757-472-2547
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  • Jonathan GreeneBusiness Member
    Real Estate Consultant · Madison, NJ · Member since 2016 · 6k+ posts · 7k+ votes
    5y

    I agree with @Jason Hirko. It's all about how you are being presented by your agent or your boots if it's a wholesale deal. If you want to win, you need to have your team lined up and you are best served with an investor-friendly agent who does a lot of deals because they can often talk to the agent they know and tell them how they have vetted you and who is lined up to do the work and close, etc. It's best to have a one-sheet on your team as part of the offer, like a cover letter, to show them that you are serious and ready. In the end, they want money so make sure the financing or cash is presented correctly above all.

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  • Linda LabbePro Member
    Investor · North Bay, Ontario · Member since 2015 · 709 posts · 263 votes
    5y

    I Live in Ontario so everything is remote and it presents no issues at all......trick it to have a team on the gourd working with you  remote is all about the people  you tribe on the ground we are so lucky to have great ones  ... ap passionate about this topic can more the willing to share what we have learnt on the way

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