I've found a market that I want to look further into and I'm reading up on the ins and outs of the BRRRR method. My question for all of you fine ladies and gentlemen is how to go about setting up the team I would need for this in the area if I'm doing long distance BRRRR investing. For example, I find a house that is 9900 (fixer upper) and want to start building a team. How do I vet property managers and get ahold of solid contractors/inspectors to make the renovation? Any references or advice you can throw my way to attack this issue would be greatly appreciated. Thanks for your time, patience and insight.
@Evan Paul Broussard I am currently in the process of doing the same now and my advice is reach out to individuals who invest in that market here on BP introduce yourself, tell them what your strategy and intent is and ask for recommendations.
If there are local REI groups, say on FB, ask to join. If allowed to join, make contacts there as well. For instance the group I joined has a whole page of recommended PMs, agents, lenders and contractors.
Have you read the Buy, Rehab, Rent, Refi and Repeat yet? If not, I highly recommend it! Good luck!
@John K. Eck I forgot to add, interview. Once you find the select core 4 recommendations, narrow it down to the best reviews and the if you can “interview” them.
@Ken K. Eck Thanks for the advice! I just bought the book and I'm working my way through it. I've already started trying to get in touch with property managers out there, but I'll definitely start asking around on the bigger pockets site.