Sunday, September 4, 2011

Real Estate Business - On the Go?

Have you ever wondered how feasible it would be to conduct your real estate investing business while traveling?  I don't mean while traveling for a 1-week vacation.  Nor a trip for the purpose of scouting out a new location to do real estate investing.  I mean an extended travel itinerary, one that has nothing to do with real estate per se.

Let me take you on a little "trip" to expand your mental horizons as to what can be done - beyond the expected.  You are building out a new business - the business that is your dream soon-to-come true, one that makes you eager to get up and go.  Your home is on the West Coast.  You need to meet with new partners for 3 weeks on the East Coast, then suppliers in Florida for 2 weeks, then 3 weeks with importers/exporters in New York City, then a 4 week stint in Panama for the final establishment of the company structure to do business internationally.

So you are away from "home" for 3 months, at least.  Do you simply drop everything related to real estate?  Or ... do you apply your knowledge regarding how to recognize great real estate deals, how to put together deals, negotiate deals, and close on deals to make a tidy profit?  Thanks to the Internet, you can still do real estate deals on the go!  Make contacts within various real estate investment associations (REIAs) before you arrive at your next destination.  Research the hot areas using Trulia.  Locate properties already advertised for sale on Zillow, Trulia, Craigslist, and LoopNet.  Get comps from the local agents (with the promise to work with the proactive agents who quickly respond with a high-quality Comparative Market Analysis).  Structure and make your offers - can be done electronically by email.  Execute your exit strategy and collect your profit (closing can also be done remotely by allowing your local real estate attorney to close on your behalf).

So, what do you think?  Can YOU do it?  If so, then surely you can follow these steps even when you ARE home.  That will greatly decrease the amount of time you personally spend on any deal.  And time is MORE valuable than money.,