Driving 1100 miles round trip to babysit a few flips. Should I mentor?

Question

Doing 40+ flips a year in florida and recently expanded to some GA properties when my AM throws me something up there that I "should take". Having to drive 1100 miles tomorrow to do 3 quick inspections on various houses we have in the pipeline. Starting to wonder if 20 hours of driving is really worth the 10 mins i need to be in each house. Maybe it would be cheaper to hire an escort with a video camera to do it for me? Sweetie, leave your clothes on, but i need in call service! :)

To be serious, anyone have any experience with mentoring someone from afar? Would seem to be a good win/win.

To be serious, anyone have any experience with mentoring someone from afar?   Would seem to be a good win/win.

Tracy Royce · Answer

I'm with you on wanting to do it yourself, it is your investment, after all. But for $300-ish you could get an entire inspection done on each one by a professional, photos and all. Do you have an Iphone? Perhaps you can find another professional there that does as well and do "face time" (or whatever it's called) and basically do a live walk through and you can guide them where to go, what to do while you're on the phone and see a live feed of everything.

Whats the opportunity cost for your time, if you're doing this high of a volume? Or like Marie said, can someone else on your team go do this for you?

John Stevenson · Answer

An easy solution may be to hire a licensed home inspector from the area. Yes they maybe a little more expensive than a mentor, Craig's list or newspaper ad responder, but you will be assured of a quality inspection, good photographic evidence and the security to know that if them miss something ... they have insurance to cover it.

Account Closed · Answer

I think you could cut the driving time way down and still make it work.  Why not fly from Tampa to Augusta.  I'm assuming you have to change plans in ATL.  Rent a car in Augusta and check out the Martinez property.  (My Dad lives in Martinez, please lord let the property be not his.) Drive from Martinez to Carrollton, and then back to ATL for a flight to Jacksonville. Rent a car in Jacksonville and check out your property there.  Then you fly or drive back to Tampa.  I think that's cutting the driving in half and you getting to all the properties.

We love to drive but our max for a property visit these days is about 350 one way.  We have people and places to stay between LA and SF and my daughter lives in the Bay Area, so it's relatively painless for us.  Driving is not the best use of our business time.  However, it's one of our favorite recreational activities.  If you're not feeling that way about it, definitely consider flying some of the legs or getting someone to do it for you.  I'd be less inclined to find local people in different locations and more inclined to find someone local to be on your team and do the travel.

Account Closed · Answer

Grass is always greenier.  I envy those that can clock out and unplug from what happened at work and not care.

I'm 31.

Darryl Salley · Answer

Aaron Churnick Im still stuck at the "40/hr workweeks stopped in 2007" lol im only 23 and i cant wait until i can say that!

Thanks for the motivation

Account Closed · Answer

26 hours while taking 2 small naps of about 2 hours a piece.    Plus a traffic ticket for 175 dollars (speeding on some back road).    Had some extended time to focus on some random ideas though, not all bad.

Trip over...    Jeff google my name and grab my cell tomorrow or sunday and give me a buzz.   I didn't think to check this on my ipad while i was driving or else I would of said we should meet up.

Ramon Jenkins · Answer

I’m sorry, I really enjoyed this comment 
“Sweetie, leave your clothes on, but i need in call service! :) “

I agree with @K. Marie Poe
“Driving is not the best use of our business time “

Especially at today gas prices

I’m not an accountant or tax advisor
but it might be a business expense ( deduction wise )
- airplane tickets / car rentals -

Jeff Smith · Answer

Aaron,

I know this does not answer your question specifically but I am going to put it out there anyways. I reside in the Evans, GA/Augusta, GA/Martinez area and have been working on getting into REI as I currently have have my first 2 buy and hold houses under contract and am have been looking for a mentor for numerous months now offering my times/efforts in exchange for their knowledge with no avail. I would be glad to discuss the possibilites of me doing what I can do help you out in this area.

Jeff

Dave M. · Answer

Haha Aaron, lot of questions there (and I have no answers - but I could do the 1100 mile drive for you for much cheaper :)

2 questions here. Can you give up control? If not, you will always be driving the 1100 miles.

Also, I only value your time at 40 hours because that will be how others likely will when they come up with a buyout price. If you think your time is more valuable then you need to support that, and driving would not be my advice.

Ed O. · Answer

Find someone and pay them pretty well hourly or offer a good flat rate per inspection with your requirements, etc. Tell them that if they're still inspecting for you after 6 months, they'll get a small bonus and then after 1 year, etc, a bigger one. Got to keep them chasing the next bonus to increase the chances of a good person staying around. There's plenty of good people that could do this. College students, perhaps a tradesperson, firefighters (work 24 off 48)... Do you have your long distance properties inspected prior to purchase? If so, maybe the  inspector could work a good deal for you for a set number of post purchase inspecitons. Even if not using a home inspector for prepurchase means, one could be quite valuable for what you need. An appraiser may be interested in doing something like this as well.

Also, if your volume is great, have more than one person doing this for you, in the event that they suddenly quit, you'll have at least another option.

Driving 1100 miles round trip to babysit a few flips. Should I mentor?

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