OfflineI'm new to this but is it possible to do all of my deals--wholesaling and buying properties---in other states because the city where I live is so high priced?
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Buying properties in other states other than your own
Posted on: Sat, 08/20/2011 - 15:26
You can buy anywhere in the world.You just have to have a very good Power Team in every area you are looking in
There are lots of investors who just can't find enough deals in their area, or the area is priced out of their comfort zone.
Just find an area that you are interested in working in, and do some market research. Once you have some basic details, you can start building your power team in that area. The individuals on your power team will be doing the bulk of the actual "labor", while you oversee operations from your home in a different city.
Just make sure you don't rely exclusively on the power team. If you can make it to the area you are working, try to get there at least once a month or once a quarter to check on everything. If you don't take the time to do that, it opens the door to your employees possibly cheating you or stealing from you because they know you aren't paying attention anyway.