What you need to know about buying long distance rental property.
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- Опубліковано 5 вер 2018
- An overview of long distance investing, covering choosing a market, building out your team, conducting due diligence, the three criteria I look for in a property, building out your systems to scale, and more!
Maybe it’s the algorithm but I just bought your book and now I see your UA-cam channel.
Excellent video! Now I know all the people that are involved and how to become organized in this process.Purchsing your books next.
David, you're a true source of inspiration and thankyou for being so transparent about the strategies you use in your business. Love your book as well and have already watched this video multiple times to ensure no nuggets are left behind. Keep up the great work!
Awesome! Just wrote a book about how to sell your home for top dollar. Should be available on Amazon if you want to check that out. Thanks for the support Ahsan!
Wow thank you David! These are absolute nuggets that you are giving away for free. People charge tens of thousands of dollars to divulge this information (e.g. google sheets, checklists, etc.).
You just blown my mind. I totally agree with you.
We should be the system designer, rather than the actual gear in that system.
The key point to a scaling business is to build a sustainable system that runs by itself.
thank you so much for sharing this and taking the time to make such great content filled video..getting the BRRRR book today
Dude! This was gold. Thank you!
Man an abundance of knowledge in this guy you're awesome David!
Amazing! Thank you, David.
Excellent advice. I've been researching this exact topic in order to be more prepared to reinvest in more property after my up coming sell.
David, thank you so much for sharing this valuable information. I love how you have systemized everything. I am really scared but watching you in this video and I am currently in the middle of reading your book, my comfort level is coming up. I really like how you take the emotion out and make it "about the numbers". You are awesome and such a great inspiration!
Thank you for sharing this Malia. That felt great to read.
You have a warren buffet style in your real estate. Love it!
David! This video was amazing. I follow you on bigger pockets. Thank you for this awesome information. Be blessed
This is exactly what I need! Today I just got into contact with a great real estate Agent in NC. I live in Phoenix and it is super super hot competition for investing here. Even the seasoned flippers I know have t been able to find a deal in months because they’re gone to the top investors in minutes. Anyways I real am excited for this series! Thank you so much for doing this.
Dude thank you for these videos
I live in the East Bay and work partially in the city. This video made so much sense to me
East Bay here too and time to look outside my backyard.
👋 Hi David! Very true and well said. You shared amazing knowledge 👏 Thank You, David Greene!
Thanks to bigger pockets that I'm here.
Extremely helpful, the podcast and your book gave the knowledge and confidence to buy our first out of state rental.
except there's no way you can renovate for less than $30K
@@priceandpride We did. We found subcontractors to do the work.
Manteca!!!! So much family there. Use to visit every summer
best advice out there hand down I'm from New York and just got my license here but looking forward to out of state real estate, definitely lookin forward to reading long-distance real estate investing
I loved this thank you. Going to buy your book now
I’ve learned a lot from your video, I will need to learn more about building the system which I have long been losing track
I'm new to this world so I'm just now watching this excellent video and took great notes so as not to miss anything. Great tips and strategies, amazing content and your book is on its way to my doorstep. Thanks for this David.
How's real estate going for you?
Big thanks for taking the time to put together this video David. Looking forward to continuing to learn from you as I build my investing portfolio. Hope to meet you and the team at the event Oct 4th! Thanks again!
The editing is clearly what made the video. Top notch talent.
Great stuff. Fantastic, informative video.
This video has effected me tremendously. Thank you. Thank you. Thank you.
MrBCurtis me too
Thanks for sharing David! I'm looking for your book about the BRRR. I've been flipping in the Tacoma / Seattle area but our market is way to inflated. I have contractor's I trust on the East coast and will be looking there for units to hold on to. Can you do a video on looking at actual potential deals and evaluate them? Thanks!!
Omg David I’m from Stockton ca . I used to work and live in Manteca ... Louise and main st....what a small world.. I’m looking to buy right now in Florida . Im building my “team” down there too . Great info!!!
You passion and mentality is so similar to mines ... anyways great 👍
This is Gold!
This was an awesome talk David! After reading your book, and understanding your system I really feel confident that I'd be able make out of state investing work for me.
Great to hear! Check out www.longdistancebook.com/optinv4hc46ls
Mind blown, such great advice.
Sam Deffler Absolutely🔑🔑🔑
Thanks for sharing Dave good advice. Just place an order for your BRRRR Book.
Great video David! Thanks for making this. Very helpful. I’m also commenting to help you with the UA-cam algo. :-)
Excellent video
Fantastic stuff, David! Just finished your Long Distance REI book. Working through BRRRR and then I'll be ready to take some major action. Thanks so much for this overview. You have the heart of a teacher and we're all benefiting from it!
Amazing. Just ordered your book. Can't wait to read it.
You advised to invest in areas with a diverse economy. Would you avoid an area that is primarily a University town full of students that is also a tourist area? That's about all there is there.
Thank you so much David for sharing this information with us
Great content!
Great video, thanks! Those check lists David that you mention are they included in any of your books?
This is really great. Love the concept of delegating. Can you delegate even for the remodel portion of it? Seems like that process, of all processes, has a higher chance of details getting lost.
Good stuff. I really like the information about systems and checklists. I hear these mentioned on the BP podcast frequently, but have yet to hear them described in detail. I’d love to hear a podcast that focuses on systems and checklists. I’m very new to all of this and I’m excited about the possibilities, but also a little overwhelmed. The methods of organization mentioned here help remedy that.
Sounds like a solo show for Brandon and I to tackle.
I didn't watch the video yet, gonna watch it later on.
Just wanted to tell the viewers who consider purchasing David's book-
I got it last week, it is well written and easy to follow BUT...
It shouldn't be your first book on real estate if you are new the the subject.
I'm looking to invest in the US while not being a resident and never been to the US actually, and if you are like me - you would like to start with the basics, I'm currently reading Bigger Pockets book on rental properties.
I am willing to continue David's book later on since it was very practical.
*one of the reason I paused - he guide you what to do step by step, but I wasn't at those stages myself yet.
Yes love it !!
I wish you talked more in depth about finding the core four and managing them. Is there a video or article like that? I hear you and others repeatedly say oh the most important thing is having the right team on the ground but you spend little time explaining how you do so. Thanks for the video.
Hello David! What do you look for when buying an old house? Do you look into the plumbing, what it made of? Example pvc vs steel?
Thank you!
Thanks for these videos! So much great info! Do you use a real estate agent in the distance markets that would know the area better or do you represent yourself since you are already a real estate agent?
Thank you for all the insight you provided! I have listened to BP for the past 6 months everyday and I am trying to become like you! I have always wondered, do you use specific websites or how do you figure out economic growth, wage increase, where people are moving to?
Such a great video, David! Thank you so much for the awesome info. Are you by any chance able to share the template or sample of the google drive spreadsheet you talked about that you share with your realtor and contractor?
Great video!! I need to follow your channel now, lol.
Thank you for such amazing value🙏... you should make a video of 5 top markets for the BRRR strategy. That would be awesome!. Anyways your a cop that made it, am that ex-con who wants to make it lol . God willing I will. Thank you!
David great episode! Didn’t realize you had a UA-cam channel on top of BP!! I’m glad I found it! I’m in the middle of your book and it’s filled with tons of great information! Wanted to give a shout and say thanks for all you guys do! We’ll see you on Maui!
Thanks Peter. More info coming soon! If you know of any interns who'd like to help me grow the channel and put out more content who live near me in Northern CA, please send them my way!
David Greene Real Estate Hi David! I’m based in sf and would love to be an intern to further push your content, and learn from you. Been reading and viewing content from you, Brandon, and Thach on BRRR. Super excited to master this one day. What’s the best way to get more info on interning for the David Greene team?!
Great video I am in the current situation where investing in my own backyard isn’t no longer giving me the ROI I am looking for, so time for me to diversify!!!
Garaudy Joseph Where do you live?
You said some things I been saying for years, be the owner and the employee hire people better than you that can a mange your properties!!!!!!! People be penny pitching for profit but they can expand profit just by getting actual help!!
What do you do about learning the local rules and regulations? There's just so much to learn, it's overwhelming and you can't possibly know everything for each state, let alone each county.
how do you prevent yourself from wasting money on home inspections, appraisals etc, what mode is your favorite way to find brrrr properties? How do you tell if a property is in abc or d neighborhood?
Awesome content David. If you are buying an off market property, how does the agent get compensated?
how does high DOM signal high competition? please and thank you.
The thing is how you going to find your core 4 when it is out of state?
This whole time I thought David was Brand turner and vice versa!!!! this is blowing my mind, Im going to pretend this voice still belongs to Brandon Turner..
Hello David , do you know a good legal entity to have for out of state real estate flipping , since the state in which the deal is in can often be random and fast paced ?
I am selling my townhome near Kansas City mo for 56k that is rented at 800 per month. I purchased it for the purpose of rehabing it and selling it just because it is held within my self directed IRA.
Good luck! Let me know if you'd like a top producing realtor connection.
still have this townhouse for sale?
This is amazing info, great video, clear & helpful! Loved your book, very excited about your next. I have a feeling that many people would be interested in seeing an example of one of your Google Drive shared folders; any chance we will see that in an upcoming blog post?
haha! Maybe I'll put together a raffle, or a sweepstakes for it. Or a show like The Apprentice where the winner gets to see the golden systems I use.
@@DavidGreene24 let the rabbit out the hat!!!! ;)
Solid content man! I got family in Manteca, from the overpriced bay area though
Damn. This was an awesome video! But need to listen more then 1x to get it all. How did you ever think being a cop was your calling? Your Brain and balls to go big like that, dang! Great job man and waiting for that book or is it out?
Thanks Lv. I knew I was meant to be a cop, and I knew when life was telling me I had to move on. I've got three books out now you can buy. 1. Long Distance Real Estate Investing 2. Buy, Rehab, Rent, Refinance, Repeat (the BRRRR book), and 3. Sell Your Home For Top Dollar. Hope they help you on your journey like they did on mine!
This is goooold
I just posted about my start in out of state investing on my channel, and guess what? bigger pockets is part of my journey.
But I read that banks will only lend you for up to 10 houses unless they are paid off? So your BRRRR strategy means that you have to pay cash for all of your properties to work and buy 5-6 houses a month?
BAM!!!
I read your book and the video is a great recap of that. The one question I have is that with the BRRR strategy is that it seems that you have to have all the cash for the first property for it to work. Cash for the home and cash for the rehab, you would not be financing any of that. Is that correct? Also, you mention refiing out of that property, getting all or most of your investment back and then doing it again. With the size of portfolio you are suggesting, how are you getting around the limitations of conventional financing restrictions and getting loans at reasonable rates? Commercial financing is a very different animal with its own risks.
you can buy a property with partial cash and a hard money loan then refinance the hard money loan once the house is rehabbed and rented. You could also find a private person to finance the entire purchase and rehab then refinance that loan. You just have to be very exact on the ARV so you can refinance your private lender.
Sounds like a question that my new book (Buy, Rehab, Rent, Refinance, Repeat: The BRRRR Rental Property Investment Strategy Made Simple" should cover!
where did you get the 90 cash from to start brrr??????????? Becasue of course brrr is better but who has 90 cash on hand for deals???
You said with buy and hold you are looking for low days on market, did you mean to say high days on market?
Pretty sure you mean to look for higher average days on market as that would mean that homes take longer to sell and therefore less competition
*What if the numbers are good but not in the best area*
Hi, can you show me your all check lists please? Thank you!
great job , but 1% rule (said monthly) is like impossible it means 12% annually , if that what the writer mention he is absolutely wrong , if I miss some thing somebody can tell me. thanks again and good luck
Why do you need 20k when most loans only want 10% down?
Hello David would love to connect again
Travel expenses to attend to you property is a write off.
This video has has affected me tremendously. (sorry for the typo)
Even your name makes total sense ahaha
fisher person lol
Gangster
this is not accurate i buy in small town because i know they will grow u have to remember immigration will not end well at lease here in canada so u watch the growth trends and go to the cheap areas buy and wait. i buy a house for 20-30000 spend 20-30 to fix it sell it back for 300-400000 and mind u i buy cash no mortgage so i win win win i can never loose
All sounds good in principle at a high level. However, the devil is in the details and execution. Given how competitive the market is, the real estate market is no different. Where it will fall apart is with other people's time and efforts and more than likely, you will be spending all your time chasing the loose ends. No, it is not that simple that you can just farm out all this to the 'experts' and sit back and collect your loot!