Advise For Traveler
I travel quite a bit for my job. Seems that I never have a chance to meet prospect sellers. I have been studying creative way of buying houses from different gurus. Have not tried any methods yet. But I am under impression that it requires a LOT of time. I also heard horor stories.
How many hours/week do you spend on finding leads and closing deals? I bought a few new properties. The process is so painless. New development property on the right location can appreciate more than 10% easily. Do you think it's worth the effort and risk? I am just curious if anybody feels the same way. Also do you have any suggestion for traveler who wants to purchase good deal houses?
each home purchase is different i have bought and closed in a few weeks and also have taken amost a year to make a deal on a desired prop. be careful with "distance" in the equation when r/e investing. it can be a pain..kenmax
EW,
It seems to me that you take whatever cards you've been dealt and try to make them winners in the real estate biz. If I was traveling a lot for my primary job I'd try to figure out a way to make that an asset to my real estate carreer as well.
Not quite sure how I'd do that but I can give you some ideas.
I have been traveling more than usual of late as well. When I find myself going to a particular area I search the Members area here for investors in that area. Then I send them PM's mentioning that I'm in their area and asking if they'd like to get together. We do lunch or dinner and talk about what kind of deals they are doing, what's hot in their area, what's working for them.
Also when I travel I keep an eye out for interesting deals I drive by. Call local brokers see what they have. Try to wholesale the deal to somebody local. Or partner with them to make a development project happen.
I particularly like looking for projects in places where I would enjoy traveling. Since I live in Chicago and like to sail that means mostly east coast things in warmer climes. I'd love to find a beat-up marina or good harbor on the gulf or carribean someplace.
I know that none of this answers your question which is "how can I do this when I have so little time at home?" I guess my answer is-- then do it on the road.