How to Acquire Income Property: 6 Easy Steps

I dont see distance as a concern, it just means I've got to do my due diligence even more than if it was a property selling next door to me. Without doing your part in research any investments is deemed risky. As your knowledge grow, so will your thirst for risk, in fact risk is a derivation of over paying for something, whose value is worth less than the price paid for. So if you can work out the correct price to pay for an asset, your risk level is pretty much mitigated if not reduced.

You have your point that cheap doesnt equate to bargin. Though buying something whose value is much higher than the price you pay will ensure you are taking lesser risk for the reward or benefits attached.

I've already purchased two properties from Michigan, had them rehab and is having a terrific property management company looking after them. Through this I'am receiving a nice passive income each month with little hassy. I may get calls from my managers from time to time to keep me abreast with any small maintenance that needs doing but besides that little on my part.

Once you have everything intack, your real estate properties pretty much looks after themselves and you're covered by insurance if some unforseen disaster that may take place. Hence as long as you have the cussion to fall under, it's really a no brainer in my honest opinion.

Thanks you for your thoughts Michael.

Eamonson.

Hi World Changer, thanks for your insightful post.

It can be argued as being similar to having a long distant relationship. Those that has little trust of the relationship working, invariably end up stabotaging the relationship. Hence what their mind conceived their mind clearly achieved.

Whilst those that are willing to be bold and to give it a shot at it, invariably but not always, achieve their desired goals. Though I validate your argument against distances as a barrier for entry, I disagree that it isn't impossible for a few minority that has successfully wired into their subconscious mind of success, and will endervour to do what ever it is needed to make things work out.

Opportunity doesn't come to you, it is created through you seeking it. The more you desire change, your mind has an incredible way of thinking creatively to create those opportunities.

I agree with you with integrity. Warren Buffet even said that you want to employ someone that has 3 qualities.

1) INTELLIGENCE
2) ENERGY
3) INTEGRITY
 
  What he then say is if that person doesn't have the integrity, their energy and intelligence will rob you of all your wealth. That why a company greatest assets is in their integrity, as only this will ensure long term businesses for that enterprise.

  In regards to your last paragraph on the integrity of US real estate agents, contrast to ours in Australia; I'll disagree! I think with any organization that is set up to make a profit, inclusive of Australian real estate agencies. Their first goal invariably, is to make an underlying profit for their shareholders. Hence invariably this means their first priority is themselves, second would be their clients (the vendor) and last is you, the buyer. Therefore, unless you can afford to hire a licenced buyer advocate in Australia, your priority as a buyer in the eye's of the vendor's agent is placed last. Whilst in America at least you can go and get yourself a license realtor agent that can act for you as a buyer advocate. They will only get paid by the vendor once a deal is negotiated. In this scenario, your priority as a buyer is clearly placed equal to that of the vendor, as both of you have your own agents that are working hard to negotiate a deal.

Thanks for your insight though made me think.

Eamonson