Real Estate Investing without Leaving Your Home : Real Estate Investment Tips & Strategies
First and foremost, I do not recommend real estate investing without leaving your home from the start. For most people, one bad deal early on could put them right back out of the game. For me, it was a goal to eventually have a system set up that could buy houses without me ever seeing them without leaving the comfort of my home. And I mean without EVER seeing them. I have bought, leased, and sold houses that I have never once laid my eyes on. Maybe your thinking that I am an idiot for doing so but just give me a moment to explain.
One of our coaching students came across a woman that was behind on payments and facing foreclosure. Our student wanted to partner with us on the deal in exchange for our help to put it all together. The property was in Phoenix and the market out there was still really hot. At that time, not only had I not seen the house, I had never even been to Arizona.
After analyzing the deal, we decided to do a short sale on the property. It was a good property in a nice neighborhood but definitely needed some TLC. We talked our student through the process of contracting the deal and getting all the correct paperwork signed. And we made sure he contacted all the right professionals for our due diligence.
We ended up getting an acceptance from Countrywide to buy the house for around $120K and found a buyer before we even closed on it. We wound up netting over $50,000 profit on a house that I had never seen in a state I’d never been to . . . allll from the comfort of my home!
How’s that for real estate investing without leaving your home.
And I’m not taking any more of a risk than the average investor. Whether I leave my home to visit a property or send a team of professionals through it, I am doing the same due diligence. I am gathering the same information to evaluate whether or not it’s a good investment.
I am going to be doing several posts on the subject. If there is any particular question you want answered about real estate investing without leaving your home, drop us a comment.
Category: Real Estate Investment Buying Strategies, Tips and Tricks
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These types of things are why most people are scared away by investing in real estate. Even though I am interested in real estate, I don’t think at this time I would have had the guts to do that. Like you said though, real estate investing should push a person beyond their comfort zone from time to time.