Updated almost 6 years ago on . Most recent reply
Long Distance Investing - How Do You Trust People???
Hello! I'm a NEW long-distance out-of-state investor from Canada. My future properties will need local contractors and property managers to do the work. I might never see them, their work, or my property in person. This is risky and intimidating especially for a newbie.
David Greene's book Long Distance Real Estate Investing says it's possible. It says one of the best way to mitigate risk is to require video/picture proof of rehab work and get referrals/references for everyone you work with. But even so, there's still risk and uncertainty.
My question is:
1) How do you get over the mental hurdle of trusting someone else will do a good job without you being there in person?
2) Can you share any long distance investing tips?
Speaking of finding quality people, if you know any good people in Texas, please let me know.
https://www.biggerpockets.com/forums/12/topics/801192-long-distance-investor-looking-for-partnerships-in-dallas-tx
THANK YOU SO MUCH EVERYONE!!!