Out-of-State Investment w/David Greene

A third of the people in the country are in markets where they can’t cashflow right now. Why is it smart to consider investing out-of-state? What are the mindsets and limiting beliefs people that make it hard for people to do this? What criteria should you look for in your those properties? On this episode, investor and author, David Green shares on finding opportunities in markets where you have the advantage, and why out-of-state investing is not as risky as you might think.   When you’re investing out of state, it forces you to run your business like a business. -Tom Cafarella Takeaways If you’re collecting 1% of the property’s value every single month, you are very likely to cashflow. There are 3 types of distress - market distress, personal distress and property distress. The are four people you need if you ever want to invest: a deal finder/wholesaler, property manager, contractor and lender. You don’t have to fly in and see the homes each time. There are people you can hire to do it cheaper and better than you would. At the start of the show, we talked about the opportunities that are available in other markets, and how David found his first opportunity. Next, we talked about the mistakes people make when they try to do all the work themselves, and why you need to think like a CEO. We also discussed the four core roles you need to have to invest. We also discussed how to adjust your strategy to your strengths. David also shared on: The problem with multi-family properties The markets he looks for deals in 3 types of distressed properties A lot of people put off investing because they think it’s too late or that their local markets won’t allow them to cashflow. Actually, there’s a lot more opportunity out there than you might think. It’s the very initial get-your-foot-in-the-door phase that stops most people from investing out-of-state. Hire people who have the knowledge and skills you need. You’re not saving money by trying to do it all yourself. You’re actually wasting it when you have to step into a role you know nothing about. If you can think like a CEO, rather than a worker bee, and find people whose interests align with yours, you will succeed. Guest Bio David is a real estate investor/agent/author/entrepreneur/police officer in the CA SF Bay Area. David's goal is to achieve total financial independence through real estate and to help as many others do so as possible. Go to http://greeneincome.com/ for more information.   Resources Join our free Live Training: https://register.gotowebinar.com/register/181906883837141506 Partner with us: http://www.tomcafarella.com/p/partner-with-us.html