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BiggerPockets Real Estate Podcast

257: But My Market is Too Expensive!” (How to Become a Long-Distance Real Estate Investor) with David Greene

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.816.5K Ratings

🗓️ 14 December 2017

⏱️ 93 minutes

🧾️ Download transcript

Summary

Investing outside of your local market can strike fear into the hearts of even the most savvy real estate investor. But long-distance investing doesn’t need to be extra risky! In fact, today’s guest argues that it might just be the most profitable investing you’ll ever do. Today’s guest, David Greene, a San Francisco real estate investor and agent, shares his incredible process for finding, rehabbing, and managing properties from thousands of miles away. His approach to building a “Core Four” is nothing short of genius and will transform how you run your real estate business, whether you are buying next door or 49 states away. This is one show that could change your real estate strategy forever! In This Episode We Cover: What David’s been up to since the last time he was in the show How to find the right people to help you find the right properties How to seek out top-notch lenders Tips for offering value to people hundreds of miles away A discussion on whether newbies can invest long distance The “Core 4” team members you’ll need when investing in real estate out-of-state David’s thoughts on turnkey companies How to overcome the fear of trusting someone you work with All about David Greene’s new book! And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Podcast 169: Using Hustle and Persistence to Build Wealth Through Real Estate with David Greene BiggerPockets Podcast 254: Tim Ferriss on Real Estate, Becoming a Top Performer and His Tribe of Mentors Long-Distance Real Estate Investing by David Greene Home on Discovery Bay, CA (House Hunter Episode with David Greene) Rentometer BiggerPockets Analysis BiggerPockets Podcast 248: From Shop Teacher to Multifamily Syndicator with Todd Dexheimer BiggerPockets Podcast 227: From Single Family Houses to $130,000,000 in Multifamily with Joe Fairless BiggerPockets Podcast 234: Tenants, Evictions, & The Dark Side of No Money Down with Ryan Murdock Books Mentioned in this Show A Curious Mind by Brian Grazer The ONE thing by Gary Keller and Jay Papasan The 4-Hour Workweek Tim Ferriss The Millionaire Real Estate Agent by Gary Keller The Richest Man in Babylon by George S Clason Principles by Ray Dalio Fire Round Questions Out of town financing From NYC to out of state investing Help How does investing out of state impact your tax status? Out of state smaller properties? How important is it to have an in-state CPA? Tweetable Topics: “I’m putting a dream team together that runs on autopilot.” (Tweet This!) “The market itself is not quite as important as the success you’ll likely have in that market.” (Tweet This!) “It’s only risky if you’re lazy.” (Tweet This!) “You’re not going to make money right away when you start first doing anything new. It’s only going to be what you learn that will make money later.” (Tweet This!) Connect with David David’s BiggerPockets Profile David’s Facebook Profile David’s Company Website David’s Personal Website Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

This is the BiggerPockets Podcast Show 257.

0:05.0

This reputation of buying out of state became a risky thing.

0:09.0

It is a different world we live in and I talk about it in the book.

0:12.0

There is so much technology has made

0:13.6

available to us as far as doing your due diligence and doing research.

0:16.7

When I buy a house in Jacksonville it's not a lot different than if I was to buy it

0:20.0

in my hometown. You're listening to bigger pockets radio, simplifying real estate for investors

0:26.0

large and small.

0:28.0

If you're here looking to learn about real estate investing without all the height, you're

0:32.0

in the right place. Stay tuned and be sure to join the

0:35.4

millions of others who have benefited from bigger pockets.com. Your home for

0:40.4

real estate investing online.

0:42.6

What's going on everybody?

0:43.6

This is Josh Dorkin, house.

0:45.7

The BiggerPockets Podcast,

0:47.0

see her with my co-host, Mr Brandon Turner.

0:49.7

What's up, man?

0:51.0

Not a whole lot.

0:51.6

It's the rainy season, which is 10 months out of the year out here in Washington so it's non-stop raining. What about you?

0:56.4

Do you know that we've been doing this show for about five years? It'll be five years in like in January. Yeah. Do you know that every other show

1:06.4

It's raining bitch and moan about it being the rainy scene? I'm working on getting out for the

1:10.7

winter you know I'm getting there we'll. I'm looking at Hawaii as a nice winter destination.

...

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