New real estate investors usually have the impulse to invest where they are. They want to stick with the market they’re familiar with, the properties they can visit and see, the things they can control.
The idea that they should invest outside of that in markets that are thousands of miles away sounds preposterous! In actuality, remote real estate investing isn't as crazy as it might sound. In fact, it offers some of the best investment opportunities you'll find in real estate.
The Objections to Remote Investing
Distance & Uncertainty
Investors, particularly new investors, don’t like the idea of not seeing the properties that they’re buying. They don’t like the idea of not being there when something goes wrong. They don’t like ambiguity. When you invest remotely, you’re working on secondhand knowledge, and there is definitely something intimidating about that. Instead of working on your own personal experiences, you have to rely on research and the experiences of others.
Many will say to only invest in what you know firsthand and in what you can see and control yourself. Investing from a distance? Just too risky.
The truth of the matter is that you can rely on secondhand knowledge and research if your methods are sound. If you've done your due diligence, received verification, and gone through the right steps, you have nothing to fear.
What If It’s a Scam?
Another objection to remote investing is the worry that you may be opening yourself up to being scammed. After all, if you can’t see the property in person (at least not easily), won’t it be easy for someone to pull the wool over your eyes?
Few real estate investment scams short of a full-fledged pyramid scheme work long-term. You would know fairly quickly if something wasn’t adding up. Second, if you’re doing everything you can to do your due diligence—getting eyes on the ground, going through reputable sources and leads, vetting companies and relying on testimonials and reviews from objective sources—you’re not likely to get scammed by anyone.
Why Remote Investing Works
Remote real estate investing works because it opens investors up to markets that they wouldn’t have access to otherwise. The markets we live in aren’t necessarily the markets we should be investing in. By utilizing turnkey real estate providers that have properties in markets all across the country, investors can capitalize on the potential of growing markets beyond what they know. That means potentially tapping into more affordable prices and quicker scaling.
Worry-Free Remote Real Estate Investing is Possible
Through a turnkey real estate provider, real estate investors can tap into the unlimited potential of remote real estate markets without worry or hassle. Sound too good to be true? That’s what causes most people to pause! Not every provider is created equal: as with any company, provider, or partner, due diligence is needed to ensure that you’re putting your financial future in the right hands.
When it comes to remote investing in turnkey real estate, you can rest easy with the knowledge that you have:
An Able Team
Turnkey providers like Memphis Invest don’t just exist to sell investors properties that are ready to generate income. They come backed with an able team that is equipped to handle every detail of the investment process so that you, as the owner, can invest with zero stress. Not only are the details of property management taken care of, but you can even call on our team to help you navigate the question of scaling, financing, and your growing future as a real estate investor.
One of the vital components of a working, effective remote investment strategy is communication. An effective turnkey partner knows the value of quality communication: not only to update their clients on the state of their investments but to help build a lasting relationship. They know that investing in your success is in everyone’s best interests. That means being attentive, responsive, and quick to communicate openly and honestly.
Lastly, remote real estate investors that go through a turnkey provider like Memphis Invest have the advantage of expertise. They are leveraging not just real estate investment experience, but all of the experience that comes with each aspect of the process: negotiating deals, inspecting properties, planning and executing property renovations, finding and vetting tenants, managing and maintaining properties, and dealing with any and all issues that may crop up.
A turnkey investor has access to the market that they want to be in through a turnkey provider because that provider knows that market and already has selected and purchased ideal investment properties. It's not just about access, either.
That turnkey provider helps equip their clients for success through their expertise and by building a meaningful, lasting relationship.
At Memphis Invest, it's that relationship that takes center stage!