"Hey Nathan, I know you're pretty experienced so I hope you can give me some more direction. I currently live in The Bahamas. Will I still be able to do the same deals I read about without actually seeing a property?How do you suggest I approach investing considering my circumstances? I'm back and forth between Palm Beach, FL and here but I'm not sure how I can implement Dean's strategies. What do you think?"
I received the above private message from an individual. I asked them if I could answer this question in a public forum. They agreed.
I feel this will be a good learning topic for those reading the forums.
1) Will I still be able to do the same deals I read about without actually seeing a property?
The answer is yes. The difference is you will need to implement working properties from a distance. You will need to have people such as a Realtor to show you the property. Considering that you will not be physically at the property you can have them take video or pictures of the property. They can send you this information through the internet.
Once you have video you can make an offer. You could also make an offer sight unseen with contingencies. Then if the offer is accepted you would have the Realtor show you the property through video.
Also, getting people like handy men / woman may be harder. You will want to check references and get pictures of work they have done. This will also apply to just about everyone in your power team.
2) How do you suggest I approach investing considering my circumstances?
Your conditions seem to be the same as though you were in California investing in Texas. The only difference is that you live in another country. Your options remain the same. If you are looking to finance properties you may need to find a broker that specializes in financing other countries.
3) I'm back and forth between Palm Beach, FL and here but I'm not sure how I can implement Dean's strategies.
Because you will be working the transaction in the United State (I am assuming) you will follow the same strategies just in your country. Reverting back to answer number 1 you will find that you will just need to use other people heavier than you might if you were in the direct area of the property.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125