Imagine receiving a $20,000 check to purchase a rental property. How about step-by-step guidance from some of the most experienced real estate investors in the industry? Well, that’s exactly what the Dream Investment Adventure Series is all about.
Follow along with our contest winner, Joe, and his journey of purchasing an out-of-state rental property. Through the mentorship of Steve Rozenberg, Head of Investor Education for Mynd Property Management, they learn about investing. Throughout the next two months, the pair will research markets, build a team, purchase a property, complete a renovation, lease the property, and everything in between without Joe ever seeing the property in-person.
This week, in episode 3, we will learn about the team Joe assembled in Atlanta. Joe is finding his Realtor and property management company. He also goes through the process to narrow down where to look and the next steps to take on this out-of-state investment journey.
After searching through the BiggerPockets Forums to find people actively sharing their knowledge about the Atlanta area, Joe noticed a few that stood out as the experts. So he contacted them, and ended up Joe developing a strong rapport with Nick Fitzpatrick. Nick is a Realtor in Georgia, who is also an investor and has experience working with out-of-state clients. Having done a BRRRR deal himself, Nick was the logical choice, as he understands what Joe is looking to accomplish with his investment property.
All criteria should be stated as percentages. Create a spreadsheet that will calculate these numbers and reveal a clear “yes” or “no,” and you will avoid the “maybes” that can get you in trouble.