hey there everybody this is David Green co-host of the BiggerPockets podcast and author of long distance real estate investing how to buy rehab and manage out-of-state rental properties and I would like to talk to you guys today about buying a house in a market that's different than where you live really buying an investment property to market that's different where you live now people have different reasons for wanting to do this I live in California a lot of you are in Philadelphia I understand and the market is kind of crazy over there you guys have had inflated prices there's low inventory there's lots of flippers and a lot of these hot markets where we live that are looking to run a business and they're kind of like desperate for yield so they're paying more for some of these flips than what we're used to see I know a couple guys that are flipping 32:48 houses a month when they're doing that much for volume they don't need as much meat on the bone is what the small-time flipper needs so we start seeing this we started thinking this is impossible how are they running it at these margins because they can run their business cheaper than ours because of the volume that they're making and it can be frustrating so what I finally decided was rather than trying to fit force this square peg into a round hole and make my market work for me I would just go to another market and figure out how to make that work for me that's been going great so what I found is that in the book that I wrote I talked about this fishing analogy where you can go to the part of the lake that you know and keep fishing or you can go find where the fish are and you can learn to fish in that part of the lake that's kind of what I've done so what I like to talk with you guys about today is just the process that I've put together for how I do this how I make sure my due diligence gets done how I find deals how I choose the market kind of all the stuff that's in the book and if you guys are interested in this you can go pick up the book if you do I'd love it if you'd write me a review online on Amazon or something those really helped and then even if you don't I'd love it if everybody would go and subscribe to the BiggerPockets podcast on itunes or stitcher or the Android store wherever you listen to podcast me and my co-host Brandon Turner talked a lot about investing in real estate and we interview people every week that do the same thing and learn from them it's pretty much the best podcast you can find if you want to learn how to be an investor so with that being said let's jump into this I'm gonna hit a cue key points in my system and then I'm gonna go over some kind of in ciliary points about things you should know and a little bit of mindset stuff like how you can get over the initial apprehension or fear you have when it comes to buying in another market because for a lot of people that's what holds them back it's not the deals it's not the numbers it's not the process or the systems it's just the fear of I don't live there how do I do this so the first thing I want to talk about is how you choose the market that you're going to invest in now a lot of people are trying to find the next big thing they're looking for what we call emerging markets they're like where's the next boom gonna happen I want to get in there first right and that is a strategy that works if you're primarily concerned with appreciation now appreciation can cover over for a multitude of sins if you screw up really bad on a deal but you're in a market that has a lot of appreciation you can make a lot of money the problem is nobody has a crystal ball and in all honesty by the time you figure out what the next hot market is gonna be there's probably a ton of other people that I got there before you or they're already buying deals so I don't let the market I'm choosing be the factor that holds me back from getting started what I want to do is I want to go find an area where I know that they're gonna have houses that I'm looking for I know that it what I call it's a target-rich environment I know that if I'm looking for houses to flip I can find a market with very low days on market pretty high price ranges and not enough inventory if I'm looking for buy and hold which a lot of people are I'm gonna be looking for market with low days on market so I have less competition a very strong price to rent ratio and a strong economic base right now that's if that economic base like the jobs people are getting is growing or diversifying like tech is moving into there that's so much the better right that's probably gonna lean to appreciation but it doesn't have to be the case as long as there's more than one economic base in that area I'm good I never want to buy in an area where there's only one form of employment so if you think about disasters that have happened in my lifetime and real estate investing that I've been paying attention Detroit's really the main one that comes up that place got absolutely hammered and the only problem with investing in Detroit was that there's only one source of income you work in the automotive industry that's like the primary economic employer and when that went down which one industry can go down at any time everybody got hurt you didn't matter how good your deal was because you don't have a tenant to live there now what I want to stress to you is that of all things that could go wrong in real estate investing the only one that you can't recover from is not having a tenant to rank your property that is the one weak spot and this whole chain is that if there's no one eventual property it doesn't matter how great the house is how much equity you have anything it doesn't matter because there's no one that's actually gonna be paying you money and owning a rental property is owning a business and there's only one way that that business can generate revenue and it's from rent okay so avoid areas where you see only one form of economic employment so I would not be investing in North Dakota at least not mine Holt maybe flipping houses if you're gonna get into that market because North Dakota pretty much is just employed by the oil industry right now I would never choose like a fishing village in Alaska where everybody that works there is a Fisher person or any area that's completely dependent on tourists in like attractions like that's a tourist area that's why everybody goes there that's dangerous if that goes down the whole thing goes down now it's okay if the tourist market is like one element that makes that place important like Nashville tons of tourists go to Nashville right they make money off of that that becomes one of the economic drivers of the area but it's not just tourists they have a thriving music industry like we know there's a lot of entertainers that go there there's a lot of like regular type employment opportunities and people don't want to live there they have good schools Nashville is a very popular city that has tons of different companies that work there that's the kind of area you want to pick if it's gonna be for a long term buy and hold now as far as the target-rich environment goes for rental properties that's where we're gonna focus on because that's primarily what I do I want to find an area that has a very strong price to rent ratio now what I mean by price to rent ratio is that the price of the home is low compared to the rent that you can receive for it every month which is higher typically we look for something that fits the 1% rule which means that the rent is 1% every month of the purchase price so if I'm buying a house for $100,000 I want to know that the rents right around a thousand bucks now it could go a little bit lower it could probably go down to 800 it still makes sense sometimes like point 8 is a good number if it's not 1% and then higher price homes the one percent rule becomes less important in lower priced homes 1% rule becomes more important so if I'm buying a $50,000 house that rent better damn well be $5,500 a month otherwise I'm not even gonna look and it's probably gonna be higher than that when you get into those low priced houses so if you're looking at homes and you're seeing that the rent shows $1,100 a month I'm looking to pay somewhere around 110 to maybe one hundred and thirty thousand dollars for that house and anything more than that it's gonna be difficult for it cash flow taking a note for later in this in this speech about something I want to make sure we cover as far as the criteria that I have for how I know when I want to buy a house or not so look for areas with a very strong price to rent ratio 1% is a really good number and then you've almost wanted to have a lower days on market when there's a higher days on market average meeting houses are selling very quick there's a lot of competition you're trying to fish with a bunch of other fishermen that are trying to catch all the same fish that you're trying to catch right we want to avoid that as an investor we want to be zigging when everyone else zags Warren Buffett said you want to be fearful when others are greedy and greedy when others are fearful right so in California where I live in 2005 and six is when I first started looking at real estate and it was crazy expensive and home prices were jumping I believe in my hometown of Manteca California they were rising 26 cents a minute is how fast home prices were rising so I didn't want to get in that market because everyone else was I was scared when everybody else was greedy now in 2009 2010 2011 we had a crash and everyone was afraid to buy real estate they thought prices we're gonna keep dropping they thought that there wouldn't be anyone to rent it they thought the economy would never recover we were going into another depression right that's when I jumped in and I started buying now that doesn't mean that you should avoid buying real estate right now because there's a lot of other people doing it means you need to avoid the areas where a lot of other people are buying right I'm in north Florida I'm in Arkansas I'm in Georgia I'm still in Arizona a little bit but not as much because there's a lot more people there I'm looking for areas where other people are not looking to be investing in real estate and I'm looking for strong price to write ratios while they're there now when the market turns around and we hit one of these area these like times where California is once again nobody wants to buy their that's when you need to be jumping in with both feet so my strategy is that coastal markets they go up and down really high by low or yeah you buy low you sell high and they kind of do this as you get closer into the middle of the country you start to find that like the Midwest and some parts of the south they're almost like flatline they don't really go up they don't really go down a whole lot those are the markets that you buy in in times like this when the markets really hot that way you avoid getting burned when the market cools off that's when you jump out you buy in the coastal cities and you'll make most of your money so I believe that in any market I've ever seen there's a part of the country where you can be investing and it makes sense to do it you don't have to sit on the sidelines and do nothing I don't think that you should be investing in your market at all times right you need to be investing in your market when it makes sense and if it doesn't make sense in your market you need to go to another market so the last thing I look at when choosing a market is where I have a competitive advantage now what I mean by that is where do I just know someone they can make it easier for me to be successful do I have a cousin in an area who's a really good realtor or a really good contractor or a really good property manager or knows other investors something like that they can help give me an advantage over other people or over advantage of just starting completely fresh somewhere not knowing anyone at all so before you try to figure out the next emerging market and you get really caught up in that ask yourself where is there a target-rich environment and where do I have a competitive advantage and when make sure once you find it that the economic model makes sense in that area that they're not dependent on one source of employment once you find that area the next thing you're gonna want to do is figure out who your team is going to be now in the book I talk about my core four and those are the four people that I need and if I have them I can invest anywhere I've gone to several markets and I'm invested in all kinds of different places and I found I need these four people every single time they are the lender the property manager the contractor and the deal finder now a deal Finder is usually an agent but it can be a wholesaler it can be a friend it could be yourself if you like to find your own deals the important thing is that you have those four people now usually once you find one those recommendations will help you find the others I have this philosophy that rock stars no rock stars so if I find a really good person at one part of their job they'll know other people that are really good at their job that will help me in that area and they'll give me your furrows two other people that are really good in their job that will help you there and eventually I have a strong core for and eventually that core for oh we could very be bringing me deals I won't even have to look for deals for myself right the ideal business we're building we're not doing any of the work we're hiring the people to do each individual part of the job and that's what we're gonna be working for and I'll talk a little bit later in this conversation about the systems that I have built up so that I don't do hardly anything and it's getting the point where I'm gonna be doing nothing other people will be doing everything but I will be making all the money and then I'll use my time that I'm not using for this anymore to go make money in other areas like being a real estate agent writing more books whatever the case may be so when you have a core four you want to use them to leverage all the parts of the job that you shouldn't have been doing anyways but you probably were if any of you guys are investors and you already own property you know just how tympani tempting it is to go change a door lock or go fix a leaky toilet or go fix a sink that's leaking when it really shouldn't be you doing it you should be paying a handyman to do the majority of these jobs but it's so tempting when the houses near has to go do it and save ourselves eighty bucks but who knows what we could have done with those three hours that we wasted to save 80 bucks we probably could have made more than $80 if we he had a better use of our time so for me as a real estate agent my time is worth more than whatever 80 dollars divided by 3 is right like 26 bucks or whatever that is I could do way better looking for another client servicing a client that I already have winning somebody over holding an open house stuff like that when I was a police officer I could have done way better going to work on my job and working overtime rather than going to change those locks so my point is you want to use your core for to leverage all this stuff that you shouldn't be doing anyway so when you want to write an offer on a house you should have your real estate agent send you comps and you should run those by another real estate agent or maybe your property manager to make sure the cops look good when you get into contract you don't need to go look at the house that's a problem that everyone gets into of well I don't I buy a house that I haven't seen right the odds are or the reality is we don't need to look at houses very few of us or home inspectors or experts of any kind to know what we're looking at we need the person who's doing the rehab to look at the house to give us a bid we need the person to do a home inspection and read over the report we need the agent to look it over who's working as our fiduciary and give us advice on what to do we don't need to go look at a house I my house is almost all of them I've never seen that I never will see and I don't need to see it it doesn't make a difference if I see it this is a business right when you buy a stock you're not driving to Cupertino to go to Apple and look and see oh is it really their house how's the company being run what does it smell like like there's other people that worry about all that stuff you're just buying stock in the company you got to start treating your business like that too you don't need to look at single-family houses when you're buying them you need other people too and you need to read the report so leverage that work onto somebody else to do it on your behalf and create a system that you do every single time that you can then train somebody else to do later to go through those reports and make those decisions to decide how the rehab is gonna be rent that leads us to do diligence right because you're gonna want to get certain stuff done to make sure you're not getting ripped off but your due diligence shouldn't be any different than if it's a house in your own backyard if we're buying a house we should know what the rental comps are we should know what the price of the home comes are right am i overpaying for this house or am i buying it below market value we should know what comps are for contractors how much is this guy gonna charge versus how much does this guy gonna charge we should know what the homeowner homeowners insurance comp is gonna be like how much are they charging versus somebody else you go collect all this data exactly the same as if the house was in your area but you're probably leveraging other people to do it which is actually better for you it's not worse if you can get your agent to do this for you that's awesome now if you're worried will my agent do that for me probably yes they will especially if you're buying a home and you didn't make them go show you homes I'm a real estate agent and I'm doing really well the number one task that takes more of my time than anything else is going to houses and showing it to clients it takes forever I can't be on my phone and talk to anybody else does I have to give that client all my attention they usually don't know what they want so they're going back and forth they're trying to figure it out and I'm just kind of held hostage during that process it's where I can't do any other work that's why that's one of the first things I leverage to a specialist to go show homes for me because it was killing my productivity now when I'm buying out of state I don't have to worry about that at all and neither does the other agent they don't have to go show me homes so I don't have any problem at all asking him to find me people to give me rehab it's find me people to or find cops form you find me rental comps or verify this stuff because they saved a ton of time not showing me a house right so don't be afraid to ask people for leverage don't be afraid to ask your lender hey I really need someone to help me do this do you know anybody cuz that guy's not getting paid or that girl gals not getting paid unless that deal closes don't be afraid to ask your property manager do you know anyone they can do the work to fix it up I really need a contractor do you know a handyman right they want to manage your house they want to show they have value this is what they do for a living let them help you go with their recommendations vet their recommendations out and if that person works well they keep using him if they don't then you keep looking when it comes to systems right this is very important when you're investing on a state because if you or your systems have to be much more structured now you can't scale without system systems are just ways that you can replicate what you do leveraging it on to someone else and making sure things don't get missed in the process the problem with it buying in our own back yard is that we very rarely ever get our systems right oftentimes we are doing a lot of the work ourselves or we're not doing the same thing all the time so we don't really need a system we just know what pops in our head and we end up being much less efficient than we could be if we had it so my systems start with my three criteria there's three things that I mean if I want to be able to buy a property one it will have to cashflow positively so I need to know how to analyze the house analyzing a house is exactly the same when you do it out of state or in another area as when you're doing it in state the only difference would be you have to budget in for property management so you can't do it yourself you're far away you probably shouldn't be doing it yourself anyways my second criteria is there needs to be equity in the house I want to be buying it under market value my number is I want to be all-in for 75% of the ARV ARV stands for after repair value that's what the house is worth when we're finished right like in most cases that's the appraised value if you're flipping and it would be the price you're gonna sell it for the third criteria is it can't mean a bad neighborhood I don't want the headaches that come from d-class properties or c-minus class properties even I don't care how good they look on paper they're not gonna make me money in the end of the day cuz there's eviction that people messing up your house you're buying a job when you buy a house in that price range you're not buying an investment so if I have a house that fits look at those three criteria and I have a core four in the area I'll buy it now why do I feel so confident that I can bill to buy this house what if there's a better deal that comes along that's what most people think I can't pull the trigger what if there's something better right if I'm hitting all in for 75% of the ARV I will be able to refinance that house and get a 100 percent of my capital back and then I can go by that other great deal that we're all afraid about Lucy okay so I use the Bur strategy and that's the next book that I'm writing is set to come out early next year and the Bur strategy is an acronym that stands for buy rehab rent refinance and repeat that's the order in which we go through buying a house fixing it up and then refinancing it later and the difference is when you buy a house with a down payment let's say you put $25,000 down and buy $100,000 house and then you got to spend $15,000 to fix it up you spent 25 to buy it 15 to fix it up so you're all-in for $40,000 you now have to save another $40,000 before you can buy that next house okay when you use the burst strategy you can buy fixer-upper properties a lot of the time so you're getting a better deal in it needs a lot of work so maybe you buy it for $60,000 and then you spend thirty thousand to fix it up because it needs more work than the 15 that you bought on the traditional model and so you're all-in for $90,000 but that would be 75 percent of a hundred and twenty grand now if that house appraises for 120 grand and I'm all-in for ninety a bank at a seventy-five percent loan to value ratio will let me borrow ninety thousand dollars so if I'm all-in for ninety or less and I can pull out ninety thousand dollars I can get all my money back and go buy another house or I can get more than all my money back and I can make money to buy this house I also have a house that I've spent a significant amount of money rehabbing so there's probably nothing that's gonna go wrong with it for a long time and the third factor for why burr is so much better is that even if I mess up and the house doesn't appraise for 120 it appraises for 110 maybe I leave five or six thousand dollars in that deal I couldn't rehab all of it five or six thousand dollars in a deal is a whole lot better than the forty thousand then we just mentioned a minute ago right I can save another five or six thousand dollars and go invest in another property pretty quick takes a long time to say forty thousand dollars and go buy another house so just this one trick just changing the strategy of how I buy house has led from me buying two houses a year maybe three if it was a really big year to two houses every single month and in the future when I get financing secured and that part's easier for me I'll be buying five or six houses every single month right I'll be buying five or six I'll be rehabbing five or six I will go to get those refinance so while that's happening I'll be buying my next five or six for the next month that same next month at the end of two or three months that first round of houses has all been been refinance and I can go buy another five or six so if I have three sets of houses going on right like month one I buy five or six but two I buy five or six month three I buy five or six then all my one month houses are refight I can now go buy another five or six there then next month my month to rehouse will refine I can go there and that psycho can just kind of continue on and on and on that's a lot of houses that you can be buying every year if you buy five houses a month and you can continue that with the same money mind you right this is not even the extra money that you're saving that sixty houses a month that you can be buying and never we refer to this as the velocity of money right how many times you take that same dollar and you send it out and you buy a property that's worth more than you pay for it and you get a rental income from it then you pull that dollar back to you and send it out again to buy the next house so that I talked about it briefly in the book that we're talking about now long distance real estate investing but that's strategy when I combined it with long distance real estate investing is what made my portfolio blow up huge because I could go to areas where I knew I could find deals and then I could refinance those deals and I didn't have to care about how the days on market were because a refinance doesn't care about that that's only on a resale so I could go to a place where the houses are taking a hundred and twenty days before they sell they're sitting there forever and I can like go in there as investor and get great deals because these people need to get their houses sold and then I can refinance to get my money back and buy more it's like in no loss I don't have any risk in this deal at all I'm just stacking up cash flow properties getting all my money back fixing them up and then going to buy more so I highly recommend that if you guys are thinking about becoming like legit investors and not just oh I want to buy one or two houses to say I'm an investor that you look into the Bur strategy and that you start researching like how that works and listening for it and keep an eye out for that book when it does come but you can't buy right now so don't worry about it so being edited the next thing about my systems that I want to talk about today is that if you don't document what you do every time you do a deal you can't repeat it and it will just wear you down and when you start to get to where you're buying five or six a month which was I hope your goal is you can't keep up with it when you're the only one doing it you need documented systems to be able to maintain work at that level so my favorite tool for doing this is Google Drive I like to open a Google Drive and then share it with the agent who I'm involved in with the contractor who I'm involved in and say like ok here's a folder for Florida here's a folder for one two three main street that I bought in Florida I share access with it to the contractor to the property manager and to the agent and then I make a Google sheet within there and every time I write an offer on a property I put this address in there and I have my agent mark like what the offer was for and the other some of the other characteristics of the home right so I can remember this house like the address the square footage the bedroom the bathrooms with the agent things the ARV would be all that kind of information so the agent now writes the offer and I sign it off and they check that the offers been submitted and now I have a thing I can go to to remember all the offers that I wrote at every house that I wrote it on so I don't forget about it the contractors gonna upload their itemized bid that they're giving me for the work that they say that needs to be done right into the Google Drive and I can pull it up and I can look and see what the contractor says the works gonna be and then I can make a spreadsheet that I can plug that information into to find out if it's gonna work for me if it doesn't I could go back to the agent and say the bid came in higher than we thought I need you to go write the offer for less or I need you to say hey we're backing out unless you can lower the price and if they don't want to lower the price then we back out right that alone keeps everyone from coming to me and overwhelming me with all the information as the only decision-maker it goes into Google Drive and I get to it when I can but I can have other people help me once I have the information and the drive other people can't help me if everything's in my head they have to come talk to me about it and I got to get it out of my head and into theirs and they gotta think about it and they gotta ask me questions and they gotta bring it back to me now it's in my head again I gotta go give it to the next person if I get them going in Google Drive instead of David Green's head they can communicate directly with the vendors that are involved in this process and save me all the time that's one of the ways I've been able scale and it's why I fell in love with this whole concept of leverage and getting other people involved right now I'm training somebody to take over my portfolio for me they're gonna manage all the properties they're gonna make sure the rent was paid they're gonna run the books they're gonna make decisions when we have to do a rehab they're gonna make decisions on the turn I'm just gonna go find people to bring me deals and that person's gonna go look them over and in a couple years or maybe a year from now I won't be doing anything in this single-family business I'll be buying five to six houses a month I won't even know about what's going on because I've set standards that somebody else is making sure we hit and I'm just checking in with them every quarter to make sure that we're on task right I'll be off starting another business a house flipping business and I'll do the same thing in that business and then I'll have somebody else running that then I'll go be a multi-family guy and all people that are helping me to find multifamily deals and I won't be doing much of the work I'll do the same thing in my real estate agent business I'll find the clients I'll bring them in and I'll have other people on my team help me service them because they can get to it faster than me and better than me and they're better with people than I am anyway so my clients will love it and I can grow to be the top real estate agent in the Bay Area which is what my goal is my point is it's systems that make all that possible you have to write down what you're actually doing all the time what your criteria are and why so that you can have someone else do it now most of you listening when you hear me say that you get like a lump in your throat because you realize I don't know what my criteria are I just go by how I feel that lump in the pit of my stomach tells me this is a bad idea or this increased heart rate tells me this is a good idea right I'm gonna encourage you to get away from making decisions like that you don't want to be thinking my emotions are telling you this I should do it or not do it you want to be getting in here saying that numbers are telling me this I should do it or not do it because emotions change and they're subjective they can be affected by what you had for lunch that day what your last conversation with your boyfriend was like how well your kids are doing in school how well your job is going like there's all kinds of things that can play tricks with your head when it comes to emotions numbers don't lie they don't change they stay the same if anything get your emotions tied to the numbers okay get excited when a house hits the criteria that you want to see and you should move for it right don't get excited because you said you're gonna buy a house in three months and it's been two and a half months you haven't found one and now you're feeling pressure and some form of a deal comes along they're like oh I gotta buy it right that's where systems can help they force you to know what your own criteria are and they really make you like drill down on what it is you want to see out of a deal and how you know what you're looking for so Google Drive is huge I also use checklist within Google Drive so I have a list of like okay pre contract steps we take if someone brings me a deal look it up on rent ometer come to find out what the rents gonna be look up the comps and see if I'm at 75% of ARV before that before I know the rehab get a rehab quote right like there's all these steps to go in and if everything works at the bottom of it we're gonna write an offer that would that would like write offer find out if it's submitted if it's sorry its find out if it's accepted it's accepted they go to another checklist this is offer accepted checklist and it would be order the home inspection order the pest inspection communicate with the agents and make sure that she's done that get a video on the inside of the house talk to my contractor to make sure that like he got the bid submitted within the period of time I had to do due diligence all the stuff that you need to be doing needs to be written down on a checklist so that you don't miss it for one and so that somebody else can take it over for you later or in the meantime help you with it for two it's gonna be really that simple ok let's say that we get through the escrow process and the last step in my checklist there is house closes now I need a third list for pre closed or sorry post closed right call the electric company get the electricity turned on get the water turned on make sure that I get the paperwork from the title company make sure I log it in the list of houses that I own because I don't want to forget I own it which has happened before make sure that the contractor is going to start the work when he said he is and logged when the date is that he's supposed to be finished make sure I sent him the first draw all that stuff needs to be in the post closed checklist at the end of it when it's completely finished the last step is going to be send us the property manager to have them put it up for rent guess what that's when another checklist start right like house advertised for rent checklist now I have check in with a property manager to make sure it's being rented don't let it go so long without it being rented getting a tenant in there make sure all the leases got signed make sure I know if they have a pet or not make sure that I marked an encounter when that lease is gonna expire so that I can check with the property manager and make sure that they're raising the rent if it should be raised at the end of that month like all that good stuff right these checklists are how you create systems it can really be this simple so don't get intimidated by this idea of systems but they're very very important that you don't mess up and they forced you to master what you're doing and that is what I think is so important it's why I'm writing this book on the Bur strategy because doing it over and over and over like this which burl iäôs you too allows you to become a black belt investor the best martial artists just practice the same move over and over and over and over and over and so they become a master of it you can never become a master of real estate if you're buying one or two houses a year you just don't get enough practice you don't get repetitions and you're not doing the volume you're not getting the deals from the contractors you're not getting the best attention of a property manager the agents are gonna bring the deal to you first they're gonna bring it to me because I'm about three houses from him last month not one house in the last nine months like you so that's really important basically that's why you want to become really good at what you do and create these systems so I hope that this video has been helpful for you I hope you have a little bit more clarity on how to invest out of state and you realize it's really not different than investing in your own state it forces you to be better and really it's the way you should have been doing it all along we do way too much on our real estate investing business we don't need to we even try to know more than what we need to know we don't need to know everything we didn't we need to know that people that know everything we need to know the home inspector we need to know the property manager we need you to know the comps we need to know the the character the person who's giving us numbers and the competence of them to know how much we can trust it we don't need to become the expert in that area ourselves we need to know the expert know we can trust them so I hope this helped you guys I'd love it if you would pick up my book and if you tell people about it I love it even more if you'd subscribe to the BiggerPockets podcast and listen to me and Brandon on they're interviewing different people I hope that you guys have a great day I am very grateful for the opportunity to talk to you guys follow me on Instagram or Facebook I'm David Green 24 there's an e at the end of green and let me know what you thought thanks guys
