Short Term Rental Riches 47. What Keeps Us From Purchasing Investment Properties Remotely? (F**R)
Purchasing property can be scary. Purchasing property in a new market you're not familiar with will undoubtedly be more scary. How do we know if a new market makes sense? What if we’ve never visited it before? What if we don't know anyone there? There's a lot of fear and anxiety that pops up. Each time Tim has invested in a new market he has experienced both of these! This week he’ll discuss what helped to curb some of his fears investing in new areas and his insights and tips for making sure you don’t get in over your head.
- What causes the fear and how to cure it
- The fundamentals
- Rent to value Ratio (episode 13)
- Property condition & (remote) Inspections
- Who will manage it?
- The ultimate deciding factor.
Next week we’ll break down how to figure out if a property makes sense as a short term rental. Make sure to subscribe so you don’t miss it!
If you need a re-cap on evaluating the returns and comparing one property from another check out episode 13.
For remote inspections before getting too far in to a deal, check out: wegolook.com
Of course, you will always want to get a professional inspection if you decide to move forward.
For more info on finding the best properties get our free guide and more at www.restmethods.com
If you want to learn more about Tim’s journey, email us at resilience@restmethods.com for a free copy of the Amazon Best Selling book Tim co-authored: “Resilience, Turning Your Setback Into a Comeback.”
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