Share Your Successful Out of State Rehab Story

Rental Property Investor · Toronto, ON · Member since 2019 · 21 posts · 7 votes

I am from Canada and looking to buy and rehab a property in Columbus, Ohio. I have searched the forums and found the trusted team advice everywhere. I am working on that. My question here is, has anyone successfully done an out of state rehab? Could you share your story, especially any lessons learned? Who was the most critical person in your local team, what did you not foresee? How did you PM it?

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Greg Dickerson

Developer · Charlottesville, VA · Member since 2018 · 4k+ posts · 4k+ votes

Hi Derek,

When I do deals out of state I make sure I have a qualified competent general contractor handle the project for me turnkey. I do not pay upfront for any work but I will pay as soon as the work is completed and inspected. I get lots of references and proper insurance certificates. I use a local realtor to list the properties and keep an eye on them for me during construction sending pictures videos etc. You can also hire a home inspector or lender construction inspector to do the same thing for you. Your realtor can be very helpful and be your boots on the ground helping you put together all of these pieces.

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Greg Dickerson
Developer · Charlottesville, VA · Member since 2018 · 4k+ posts · 4k+ votes
7y
Hi Derek,
When I do deals out of state I make sure I have a qualified competent general contractor handle the project for me turnkey. I do not pay upfront for any work but I will pay as soon as the work is completed and inspected. I get lots of references and proper insurance certificates. I use a local realtor to list the properties and keep an eye on them for me during construction sending pictures videos etc. You can also hire a home inspector or lender construction inspector to do the same thing for you. Your realtor can be very helpful and be your boots on the ground helping you put together all of these pieces.
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Robert EllisBusiness Member
Developer · Miami, FL · Member since 2014 · 3k+ posts · 1k+ votes
7y
Originally posted by @Derek Merdzik:

I am from Canada and looking to buy and rehab a property in Columbus, Ohio. I have searched the forums and found the trusted team advice everywhere. I am working on that. My question here is, has anyone successfully done an out of state rehab? Could you share your story, especially any lessons learned? Who was the most critical person in your local team, what did you not foresee? How did you PM it?
it's very difficult to do unless you've formed relationships. i'd make sure you have a GC that you trust that will be on site at least once per week. or break it down by the individual trades. we are local to columbus and it still requires a lot of supervision because there are so many things that can change and need answers on for each rehab that's different, depending on the complexity.
[email protected]786-494-6766
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Derek Merdzik
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Rental Property Investor · Toronto, ON · Member since 2019 · 21 posts · 7 votes
7y
@Greg Dickerson thanks for the advice. I did not think of using the realtor for this, I was thinking of the property manager. This opens my options more.
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Derek Merdzik
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Rental Property Investor · Toronto, ON · Member since 2019 · 21 posts · 7 votes
7y
@Robert Ellis I have been thinking of breaking it down into individual trades, you're right that it takes good project management and can get complex. Any pointers on how to find solid GC, that might be the more realistic route to start.
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Robert EllisBusiness Member
Developer · Miami, FL · Member since 2014 · 3k+ posts · 1k+ votes
7y
Originally posted by @Derek Merdzik:

@Robert Ellis I have been thinking of breaking it down into individual trades, you're right that it takes good project management and can get complex. Any pointers on how to find solid GC, that might be the more realistic route to start.
I can tell you we have 7 renovations going and you need to find maybe a trade in the middle that can do a lot and help manage it. Demo is easy and then plumbing and electric. The finishing crew is the one you have to find. i'd pay $5 for a craigslist ad and have very specific instructions to someone that can bid it and post in columbus and see who responds. tell them you want to help arrange the few trades in front of them and make the property secure. it's difficult to find a good GC
[email protected]786-494-6766
Section 8 Launch52 Reviews
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Derek Merdzik
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Rental Property Investor · Toronto, ON · Member since 2019 · 21 posts · 7 votes
7y
Originally posted by @Robert Ellis:

Originally posted by @Derek Merdzik:
@Robert Ellis I have been thinking of breaking it down into individual trades, you're right that it takes good project management and can get complex. Any pointers on how to find solid GC, that might be the more realistic route to start.
I can tell you we have 7 renovations going and you need to find maybe a trade in the middle that can do a lot and help manage it. Demo is easy and then plumbing and electric. The finishing crew is the one you have to find. i'd pay $5 for a craigslist ad and have very specific instructions to someone that can bid it and post in columbus and see who responds. tell them you want to help arrange the few trades in front of them and make the property secure. it's difficult to find a good GC
That's good to know about the finishing crews. Thanks for the tip.
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David Yoder
Developer · Columbus, OH · Member since 2008 · 117 posts · 63 votes
7y
@Derek Merdzik. There was a great BP podcast from an ex police officer that has the winning team structure.
I think that it this one
https://www.biggerpockets.com/renewsblog/biggerpockets-money-podcast-12-overnight-success-10-short-years-david-greene/
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Derek Merdzik
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Rental Property Investor · Toronto, ON · Member since 2019 · 21 posts · 7 votes
7y
Originally posted by @David Yoder:

@Derek Merdzik. There was a great BP podcast from an ex police officer that has the winning team structure.
I think that it this one
https://www.biggerpockets.com/renewsblog/biggerpockets-money-podcast-12-overnight-success-10-short-years-david-greene/
Thanks David. I will definitely listen to it.
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