Finding the right out of state teams

[Lars Hartvig Kristiansen]

I have recently bought my first two properties in MI and have been fortunate enough to have found a team that, while largely separate individuals they all know each other and work together. As an example, my agent and PM are in the same team. My agent has a strong network who made the introductions to a full team across lending, LLC set-up, insurance, home inspections very easy and they have all largely been very responsive. Still early days, as I just closed on the two properties and about to get them ready for tenants.

What are some experiences you have all had with this and how have you gone about finding a full team when investing out of state. I am not done in the MI area I am investing in now but, over time, I would want to repeat a similar set up in other areas to diversity geographically too. Would love your advice. 

Lars

[Alfath Ahmed]

Quote from @Lars Hartvig Kristiansen:

I have recently bought my first two properties in MI and have been fortunate enough to have found a team that, while largely separate individuals they all know each other and work together. As an example, my agent and PM are in the same team. My agent has a strong network who made the introductions to a full team across lending, LLC set-up, insurance, home inspections very easy and they have all largely been very responsive. Still early days, as I just closed on the two properties and about to get them ready for tenants.

What are some experiences you have all had with this and how have you gone about finding a full team when investing out of state. I am not done in the MI area I am investing in now but, over time, I would want to repeat a similar set up in other areas to diversity geographically too. Would love your advice. 

Lars

 I do the same exact thing in my market so that's awesome. I would connect with good hardmoney, dscr, and conventional lenders that are affordable, connect with 2 good pm companies (find out what they charge and extra fees), get dealflow from your agent. 

Always ask 

1. How much is the deal worth at true market value? 

2. What is the asking? How much is a good offer and why? 

3. What are the rent comps? what are the sales comps?

4. Do you have any info on roof, hvac, hot water

Hope this helps!