What you need to know about buying long distance rental property.

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David Greene Real Estate

David Greene Real Estate

6 жыл бұрын

An overview of long distance investing, covering choosing a market, building out your team, conducting due diligence, the three criteria I look for in a property, building out your systems to scale, and more!

Пікірлер: 109
@islandgirl5382
@islandgirl5382 Жыл бұрын
Excellent video! Now I know all the people that are involved and how to become organized in this process.Purchsing your books next.
@AlexpxThreeTen
@AlexpxThreeTen 2 жыл бұрын
Maybe it’s the algorithm but I just bought your book and now I see your KZfaq channel.
@909victoria
@909victoria 4 жыл бұрын
Amazing! Thank you, David.
@stevenw373
@stevenw373 5 жыл бұрын
Dude! This was gold. Thank you!
@dawnmurray6945
@dawnmurray6945 4 жыл бұрын
David! This video was amazing. I follow you on bigger pockets. Thank you for this awesome information. Be blessed
@therealtimray
@therealtimray 5 жыл бұрын
Excellent advice. I've been researching this exact topic in order to be more prepared to reinvest in more property after my up coming sell.
@SSB-gq5tu
@SSB-gq5tu Жыл бұрын
Man an abundance of knowledge in this guy you're awesome David!
@options4keys
@options4keys 4 жыл бұрын
You have a warren buffet style in your real estate. Love it!
@Martyslife
@Martyslife 5 жыл бұрын
thank you so much for sharing this and taking the time to make such great content filled video..getting the BRRRR book today
@aghayas2k
@aghayas2k 5 жыл бұрын
David, you're a true source of inspiration and thankyou for being so transparent about the strategies you use in your business. Love your book as well and have already watched this video multiple times to ensure no nuggets are left behind. Keep up the great work!
@DavidGreene24
@DavidGreene24 5 жыл бұрын
Awesome! Just wrote a book about how to sell your home for top dollar. Should be available on Amazon if you want to check that out. Thanks for the support Ahsan!
@investordangdaniel
@investordangdaniel 2 жыл бұрын
Wow thank you David! These are absolute nuggets that you are giving away for free. People charge tens of thousands of dollars to divulge this information (e.g. google sheets, checklists, etc.).
@robringlehan8171
@robringlehan8171 3 жыл бұрын
I loved this thank you. Going to buy your book now
@jacobfehr8250
@jacobfehr8250 2 жыл бұрын
👋 Hi David! Very true and well said. You shared amazing knowledge 👏 Thank You, David Greene! Thanks to bigger pockets that I'm here.
@MrAustinlargoose
@MrAustinlargoose 4 жыл бұрын
Dude thank you for these videos I live in the East Bay and work partially in the city. This video made so much sense to me
@themiragereigns
@themiragereigns 4 жыл бұрын
East Bay here too and time to look outside my backyard.
@McNastySlam
@McNastySlam 3 жыл бұрын
This is exactly what I need! Today I just got into contact with a great real estate Agent in NC. I live in Phoenix and it is super super hot competition for investing here. Even the seasoned flippers I know have t been able to find a deal in months because they’re gone to the top investors in minutes. Anyways I real am excited for this series! Thank you so much for doing this.
@rcolerobinson
@rcolerobinson 3 жыл бұрын
Great stuff. Fantastic, informative video.
@MrBCurtis
@MrBCurtis 5 жыл бұрын
This video has effected me tremendously. Thank you. Thank you. Thank you.
@Welearn777
@Welearn777 4 жыл бұрын
MrBCurtis me too
@maliafreund8789
@maliafreund8789 5 жыл бұрын
David, thank you so much for sharing this valuable information. I love how you have systemized everything. I am really scared but watching you in this video and I am currently in the middle of reading your book, my comfort level is coming up. I really like how you take the emotion out and make it "about the numbers". You are awesome and such a great inspiration!
@DavidGreene24
@DavidGreene24 5 жыл бұрын
Thank you for sharing this Malia. That felt great to read.
@NeMayful
@NeMayful 4 жыл бұрын
You just blown my mind. I totally agree with you. We should be the system designer, rather than the actual gear in that system. The key point to a scaling business is to build a sustainable system that runs by itself.
@Dimantledpenguin99
@Dimantledpenguin99 Жыл бұрын
best advice out there hand down I'm from New York and just got my license here but looking forward to out of state real estate, definitely lookin forward to reading long-distance real estate investing
@nicolew939
@nicolew939 3 жыл бұрын
Extremely helpful, the podcast and your book gave the knowledge and confidence to buy our first out of state rental.
@priceandpride
@priceandpride 2 жыл бұрын
except there's no way you can renovate for less than $30K
@nicolew939
@nicolew939 2 жыл бұрын
@@priceandpride We did. We found subcontractors to do the work.
@chhive
@chhive 4 жыл бұрын
I’ve learned a lot from your video, I will need to learn more about building the system which I have long been losing track
@CaryCrites
@CaryCrites 5 жыл бұрын
Big thanks for taking the time to put together this video David. Looking forward to continuing to learn from you as I build my investing portfolio. Hope to meet you and the team at the event Oct 4th! Thanks again!
@DavidGreene24
@DavidGreene24 5 жыл бұрын
The editing is clearly what made the video. Top notch talent.
@cryptoconan
@cryptoconan 3 жыл бұрын
This is Gold!
@deffsam
@deffsam 5 жыл бұрын
Mind blown, such great advice.
@Welearn777
@Welearn777 4 жыл бұрын
Sam Deffler Absolutely🔑🔑🔑
@CastleCleaners
@CastleCleaners 3 жыл бұрын
I'm new to this world so I'm just now watching this excellent video and took great notes so as not to miss anything. Great tips and strategies, amazing content and your book is on its way to my doorstep. Thanks for this David.
@versablog1
@versablog1 2 жыл бұрын
How's real estate going for you?
@brendenellasfunadventures4186
@brendenellasfunadventures4186 5 жыл бұрын
Omg David I’m from Stockton ca . I used to work and live in Manteca ... Louise and main st....what a small world.. I’m looking to buy right now in Florida . Im building my “team” down there too . Great info!!! You passion and mentality is so similar to mines ... anyways great 👍
@Danielg86
@Danielg86 5 жыл бұрын
This was an awesome talk David! After reading your book, and understanding your system I really feel confident that I'd be able make out of state investing work for me.
@DavidGreene24
@DavidGreene24 5 жыл бұрын
Great to hear! Check out www.longdistancebook.com/optinv4hc46ls
@edisonmartinez2311
@edisonmartinez2311 Жыл бұрын
Excellent video
@tonydominguez4338
@tonydominguez4338 3 жыл бұрын
Yes love it !!
@vaughanmoody
@vaughanmoody 2 жыл бұрын
Great video David! Thanks for making this. Very helpful. I’m also commenting to help you with the KZfaq algo. :-)
@brantschumaker5843
@brantschumaker5843 4 жыл бұрын
Fantastic stuff, David! Just finished your Long Distance REI book. Working through BRRRR and then I'll be ready to take some major action. Thanks so much for this overview. You have the heart of a teacher and we're all benefiting from it!
@joebeastley
@joebeastley 5 жыл бұрын
Great content!
@stephaniewitchell5465
@stephaniewitchell5465 5 жыл бұрын
Amazing. Just ordered your book. Can't wait to read it. You advised to invest in areas with a diverse economy. Would you avoid an area that is primarily a University town full of students that is also a tourist area? That's about all there is there. Thank you so much David for sharing this information with us
@Mrtsolis
@Mrtsolis 2 жыл бұрын
Thanks for sharing Dave good advice. Just place an order for your BRRRR Book.
@namgis830
@namgis830 5 жыл бұрын
Good stuff. I really like the information about systems and checklists. I hear these mentioned on the BP podcast frequently, but have yet to hear them described in detail. I’d love to hear a podcast that focuses on systems and checklists. I’m very new to all of this and I’m excited about the possibilities, but also a little overwhelmed. The methods of organization mentioned here help remedy that.
@DavidGreene24
@DavidGreene24 5 жыл бұрын
Sounds like a solo show for Brandon and I to tackle.
@tmoney34
@tmoney34 3 жыл бұрын
Manteca!!!! So much family there. Use to visit every summer
@learningtogrowinChrist
@learningtogrowinChrist 3 жыл бұрын
Thank you!
@peterkainaiv9869
@peterkainaiv9869 5 жыл бұрын
David great episode! Didn’t realize you had a KZfaq channel on top of BP!! I’m glad I found it! I’m in the middle of your book and it’s filled with tons of great information! Wanted to give a shout and say thanks for all you guys do! We’ll see you on Maui!
@DavidGreene24
@DavidGreene24 5 жыл бұрын
Thanks Peter. More info coming soon! If you know of any interns who'd like to help me grow the channel and put out more content who live near me in Northern CA, please send them my way!
@lillykuang9406
@lillykuang9406 3 жыл бұрын
David Greene Real Estate Hi David! I’m based in sf and would love to be an intern to further push your content, and learn from you. Been reading and viewing content from you, Brandon, and Thach on BRRR. Super excited to master this one day. What’s the best way to get more info on interning for the David Greene team?!
@galileo93
@galileo93 3 жыл бұрын
I didn't watch the video yet, gonna watch it later on. Just wanted to tell the viewers who consider purchasing David's book- I got it last week, it is well written and easy to follow BUT... It shouldn't be your first book on real estate if you are new the the subject. I'm looking to invest in the US while not being a resident and never been to the US actually, and if you are like me - you would like to start with the basics, I'm currently reading Bigger Pockets book on rental properties. I am willing to continue David's book later on since it was very practical. *one of the reason I paused - he guide you what to do step by step, but I wasn't at those stages myself yet.
@adlerxiloj9005
@adlerxiloj9005 3 жыл бұрын
Thank you for such amazing value🙏... you should make a video of 5 top markets for the BRRR strategy. That would be awesome!. Anyways your a cop that made it, am that ex-con who wants to make it lol . God willing I will. Thank you!
@garaudyjoseph9299
@garaudyjoseph9299 5 жыл бұрын
Great video I am in the current situation where investing in my own backyard isn’t no longer giving me the ROI I am looking for, so time for me to diversify!!!
@ap19840
@ap19840 4 жыл бұрын
Garaudy Joseph Where do you live?
@thisisphilchan
@thisisphilchan 2 жыл бұрын
This is really great. Love the concept of delegating. Can you delegate even for the remodel portion of it? Seems like that process, of all processes, has a higher chance of details getting lost.
@TheMaterialBar
@TheMaterialBar 4 жыл бұрын
Thanks for sharing David! I'm looking for your book about the BRRR. I've been flipping in the Tacoma / Seattle area but our market is way to inflated. I have contractor's I trust on the East coast and will be looking there for units to hold on to. Can you do a video on looking at actual potential deals and evaluate them? Thanks!!
@sam5miy
@sam5miy 5 жыл бұрын
I wish you talked more in depth about finding the core four and managing them. Is there a video or article like that? I hear you and others repeatedly say oh the most important thing is having the right team on the ground but you spend little time explaining how you do so. Thanks for the video.
@lwh847
@lwh847 2 жыл бұрын
Great video!! I need to follow your channel now, lol.
@jacksonclement3770
@jacksonclement3770 2 жыл бұрын
Thank you for all the insight you provided! I have listened to BP for the past 6 months everyday and I am trying to become like you! I have always wondered, do you use specific websites or how do you figure out economic growth, wage increase, where people are moving to?
@ap19840
@ap19840 4 жыл бұрын
Such a great video, David! Thank you so much for the awesome info. Are you by any chance able to share the template or sample of the google drive spreadsheet you talked about that you share with your realtor and contractor?
@mcarmengomez2562
@mcarmengomez2562 3 жыл бұрын
Great video, thanks! Those check lists David that you mention are they included in any of your books?
@poppynguyen7524
@poppynguyen7524 3 жыл бұрын
Thanks for these videos! So much great info! Do you use a real estate agent in the distance markets that would know the area better or do you represent yourself since you are already a real estate agent?
@ReynaMarrufo
@ReynaMarrufo 3 жыл бұрын
This is goooold
@miguelteran-raful2718
@miguelteran-raful2718 4 жыл бұрын
Hello David! What do you look for when buying an old house? Do you look into the plumbing, what it made of? Example pvc vs steel?
@lvtbus3167
@lvtbus3167 5 жыл бұрын
Damn. This was an awesome video! But need to listen more then 1x to get it all. How did you ever think being a cop was your calling? Your Brain and balls to go big like that, dang! Great job man and waiting for that book or is it out?
@DavidGreene24
@DavidGreene24 5 жыл бұрын
Thanks Lv. I knew I was meant to be a cop, and I knew when life was telling me I had to move on. I've got three books out now you can buy. 1. Long Distance Real Estate Investing 2. Buy, Rehab, Rent, Refinance, Repeat (the BRRRR book), and 3. Sell Your Home For Top Dollar. Hope they help you on your journey like they did on mine!
@danlikesbass
@danlikesbass 5 жыл бұрын
This is amazing info, great video, clear & helpful! Loved your book, very excited about your next. I have a feeling that many people would be interested in seeing an example of one of your Google Drive shared folders; any chance we will see that in an upcoming blog post?
@DavidGreene24
@DavidGreene24 5 жыл бұрын
haha! Maybe I'll put together a raffle, or a sweepstakes for it. Or a show like The Apprentice where the winner gets to see the golden systems I use.
@AdrianButler86
@AdrianButler86 2 жыл бұрын
@@DavidGreene24 let the rabbit out the hat!!!! ;)
@GordonCuffe
@GordonCuffe 5 жыл бұрын
I am selling my townhome near Kansas City mo for 56k that is rented at 800 per month. I purchased it for the purpose of rehabing it and selling it just because it is held within my self directed IRA.
@DavidGreene24
@DavidGreene24 5 жыл бұрын
Good luck! Let me know if you'd like a top producing realtor connection.
@Martyslife
@Martyslife 5 жыл бұрын
still have this townhouse for sale?
@planetChristie
@planetChristie 3 жыл бұрын
You said some things I been saying for years, be the owner and the employee hire people better than you that can a mange your properties!!!!!!! People be penny pitching for profit but they can expand profit just by getting actual help!!
@frankchambers2114
@frankchambers2114 4 жыл бұрын
BAM!!!
@GoldenGod69
@GoldenGod69 5 жыл бұрын
Solid content man! I got family in Manteca, from the overpriced bay area though
@errolh2230
@errolh2230 2 жыл бұрын
Awesome content David. If you are buying an off market property, how does the agent get compensated?
@beetlej2398
@beetlej2398 4 жыл бұрын
how do you prevent yourself from wasting money on home inspections, appraisals etc, what mode is your favorite way to find brrrr properties? How do you tell if a property is in abc or d neighborhood?
@jacobpeterman1951
@jacobpeterman1951 Жыл бұрын
This whole time I thought David was Brand turner and vice versa!!!! this is blowing my mind, Im going to pretend this voice still belongs to Brandon Turner..
@jinfangli2474
@jinfangli2474 5 жыл бұрын
The thing is how you going to find your core 4 when it is out of state?
@victornewman1082
@victornewman1082 4 жыл бұрын
how does high DOM signal high competition? please and thank you.
@Phantomyre
@Phantomyre 2 жыл бұрын
What do you do about learning the local rules and regulations? There's just so much to learn, it's overwhelming and you can't possibly know everything for each state, let alone each county.
@latefirestarter1894
@latefirestarter1894 3 жыл бұрын
I just posted about my start in out of state investing on my channel, and guess what? bigger pockets is part of my journey.
@matthewroth9947
@matthewroth9947 5 жыл бұрын
I read your book and the video is a great recap of that. The one question I have is that with the BRRR strategy is that it seems that you have to have all the cash for the first property for it to work. Cash for the home and cash for the rehab, you would not be financing any of that. Is that correct? Also, you mention refiing out of that property, getting all or most of your investment back and then doing it again. With the size of portfolio you are suggesting, how are you getting around the limitations of conventional financing restrictions and getting loans at reasonable rates? Commercial financing is a very different animal with its own risks.
@GordonCuffe
@GordonCuffe 5 жыл бұрын
you can buy a property with partial cash and a hard money loan then refinance the hard money loan once the house is rehabbed and rented. You could also find a private person to finance the entire purchase and rehab then refinance that loan. You just have to be very exact on the ARV so you can refinance your private lender.
@DavidGreene24
@DavidGreene24 5 жыл бұрын
Sounds like a question that my new book (Buy, Rehab, Rent, Refinance, Repeat: The BRRRR Rental Property Investment Strategy Made Simple" should cover!
@philippalbrecht9023
@philippalbrecht9023 3 жыл бұрын
Pretty sure you mean to look for higher average days on market as that would mean that homes take longer to sell and therefore less competition
@Davion_savant
@Davion_savant Жыл бұрын
Hello David , do you know a good legal entity to have for out of state real estate flipping , since the state in which the deal is in can often be random and fast paced ?
@Nahhmah
@Nahhmah 5 жыл бұрын
But I read that banks will only lend you for up to 10 houses unless they are paid off? So your BRRRR strategy means that you have to pay cash for all of your properties to work and buy 5-6 houses a month?
@lt6731
@lt6731 4 жыл бұрын
where did you get the 90 cash from to start brrr??????????? Becasue of course brrr is better but who has 90 cash on hand for deals???
@jaytea23
@jaytea23 3 жыл бұрын
You said with buy and hold you are looking for low days on market, did you mean to say high days on market?
@AAA-cc4pg
@AAA-cc4pg 3 жыл бұрын
*What if the numbers are good but not in the best area*
@masterboxxx
@masterboxxx 3 жыл бұрын
great job , but 1% rule (said monthly) is like impossible it means 12% annually , if that what the writer mention he is absolutely wrong , if I miss some thing somebody can tell me. thanks again and good luck
@YouGotNoobed
@YouGotNoobed 2 жыл бұрын
Hi, can you show me your all check lists please? Thank you!
@Rommie26
@Rommie26 3 жыл бұрын
Why do you need 20k when most loans only want 10% down?
@dre2much
@dre2much 5 жыл бұрын
Hello David would love to connect again
@arttaggerr2233
@arttaggerr2233 2 жыл бұрын
Travel expenses to attend to you property is a write off.
@MrBCurtis
@MrBCurtis 5 жыл бұрын
This video has has affected me tremendously. (sorry for the typo)
@priceandpride
@priceandpride 2 жыл бұрын
fisher person lol
@juzefzoozoo
@juzefzoozoo 2 жыл бұрын
Gangster
@divinee.155
@divinee.155 4 жыл бұрын
this is not accurate i buy in small town because i know they will grow u have to remember immigration will not end well at lease here in canada so u watch the growth trends and go to the cheap areas buy and wait. i buy a house for 20-30000 spend 20-30 to fix it sell it back for 300-400000 and mind u i buy cash no mortgage so i win win win i can never loose
@christianfiguroa7147
@christianfiguroa7147 3 жыл бұрын
Even your name makes total sense ahaha
@LWRC
@LWRC 2 жыл бұрын
All sounds good in principle at a high level. However, the devil is in the details and execution. Given how competitive the market is, the real estate market is no different. Where it will fall apart is with other people's time and efforts and more than likely, you will be spending all your time chasing the loose ends. No, it is not that simple that you can just farm out all this to the 'experts' and sit back and collect your loot!
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