Virtual
Investing Still Takes A Team
by Tim Watson
The author has permitted the
reprinting and redistribution of this article.
I am a fan of investing in Real Estate Markets that have solid
demographics and cash flow. So sufficet to say that much of the
investing I do is thousands of miles away for where I live. Our sister
company, The Real Training Insittute has been advocating this approach
for years.
However, I have seen an alarming trend growing in the world of
“virtual investing”. With the sophistication of the
internet it is easy and simple to purchase very low cost properties
across the country. The problem with this is not with the properties or
the market, but in the due diligence and team building that buyers do
prior to purchasing a property.
Owning Out of State Real Estate can have many
advantages…Price, Cash Flow, etc… But one of the
main disadvantages is that you cant just drive over to the property to
fix the toilet, or collect the rent. So prior to purchasing a property
we advocate building a support team first.
Your Support Team
1. Property Management Companies (you should have at least
two)
2. Handyman
3. Contractors
4. Insurance Agents
5. Local Lawyer
6. Inspectors
Setting up this team takes a little work on the front end, but will
save a lot of head aches on the back end. In addition this team can
give you advice as to the property you are evaluating, the
neighborhood, the price, the repair costs, and after repair value.
Tim Watson Real Estate Investor / Training http://pmwholesaledeals.com
http://propertymaverick.wordpress.com/
For more articles on real estate investor training, visit my website at
http://www.dennisjhenson.com.
Also visit http://www.turbo-bidder.com
for great real estate investor tools.