Huntsville, AL · Member since 2019 · 7 posts · 2 votes
Hi to all remote investors. So after closing, do you hand the keys to the general contractor who will be handling the rehab, or how do you manage? Thank you in advance for answering!
When you are investing OOS, I should think you need some person to be your “boots on the ground” or “gopher.” I don’t think it’s necessarily glossed over as much as it’s part of putting your “team” together. In reality, anyone on your team (eg realtor, GC, pm, your painter, a friend or relative in the area, whomever) can help you with these little things. That’s a big obstacle for me personally doing oos. You need somebody that you can trust and rely on to help get all the little things done, and not be just some “hire.”
This is a little late, but you can order one from Amazon and have it shipped to the address of the out of state house. You just need someone there to install it and put a key in.
This is the same question I've often wondered for out of state investors. If you're not present for the closing in person, who takes the keys? The property manager that you hopefully have set up? They mail you a set too? Someone's gotta let the GC in or install the lock box. Little nuggets of info like this seem to get overlooked in a lot of the remote investing books.
When you are investing OOS, I should think you need some person to be your “boots on the ground” or “gopher.” I don’t think it’s necessarily glossed over as much as it’s part of putting your “team” together. In reality, anyone on your team (eg realtor, GC, pm, your painter, a friend or relative in the area, whomever) can help you with these little things. That’s a big obstacle for me personally doing oos. You need somebody that you can trust and rely on to help get all the little things done, and not be just some “hire.”