Long-Distance Investing & Self-Managing 9 Doors While Deployed

When you think about long-distance investing, what comes to mind? People usually have reservations about investing out-of-state, but today’s guests took it a step further and invested from halfway across the world. Today’s guest, Caleb Drake, has closed on nine doors with one flip underway.
Caleb was active duty military for fourteen years, and once he joined special ops he was deployed for six months at a time. During those six months, his house would sit, unused, and that’s when he saw an opportunity. Caleb decided to rent out his house through Airbnb. As a new landlord and Airbnb host, Caleb had to learn by doing, a task that was increasingly more difficult since he was self-managing from Iraq, Afghanistan, and Africa. Caleb was able to combat this challenge by building a team that could handle what he couldn’t.
After a few years of investing solo, Caleb joined a partnership to expand his portfolio and increase his profit. His partner was also out of the country, so they switched off who was “on-call” and figured out how to automate their check-in and check-out processes. As the business grew, the partnership adjusted to ensure its longevity. Caleb now hopes to continue to scale his business, add to his personal portfolio, and build wealth in the background.
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Use IGMS to Automate Your Short Term Rentals:
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Follow Caleb on Instagram:
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[e-mail]
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Episode 181
Show notes at: www.biggerpockets.com/blog/ro...
00:00 Intro
05:17 Getting Into Real Estate During Deployment
08:16 Self-Managing From Africa, Afghanistan and Iraq
12:47 Finding His Partner & Automating His Airbnb Processes
21:17 Balancing & Structuring His Partnership
27:04 Getting into Long-Term Rentals
29:20 Financing His Properties
35:40 Lessons Learned Along the Way
41:07 Rookie Request Line
44:23 Rookie Exam
48:18 Building a Personal and Partnership Portfolio
50:20 Rookie Rockstar

[@popeofnyc]

I find this Podcast so much more easy to listen to and understand than the original BP podcast. Surprised the views aren't higher! Keep up the great work and thanks for all of your help. It really means everything to us!

[@ellenbain4344]

stellar on all fronts! Thanks all.

[@grizzlyinvesting]

It’s so refreshing to see someone in the military with like minded goals and mindsets. Being greedy with my W-2 to grow my business. Great content guys and thank you Sir for the awesome info. Now I feel more comfortable deploying managing my property

[@natusfreedom472]

What market or city,state . Was his property at doing .. air bnb , your market makes a big difference