Even with a manager around, you still have to oversee your properties from a distance. And that entails some challenges and much work, especially when doing it all by yourself.
How do you make things manageable and everything working without micromanaging your managers?
Sharad Mehta has done over 400 deals in the last six years since he became a full-time real estate investor, and over the years, he has developed systems to automate many parts of his real estate investing. Sharad is a very active investor in the Lake County, Indiana market. Using the systems that Sharad has developed, he is able to manage 3-4 rehabs a month from a distance.
In this episode, Sharad shares how he believes in systems and processes to run the business and to have all the checks and balances, so you know what's working and what is not. And improving those that don't, especially where managing properties from afar is concerned.
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What you'll learn in just 12 minutes from today's episode:
00:45 - Investment strategy he delves into
00:59 - Why he transferred to live in Canada from the US
01:29 - Differences and similarities between investing in Canada and the US
02:40 - Running and managing a business in the US while living in Canada
03:49 - The challenge of self-managing your properties
04:55 - Why he is big in systems and processes with all the checks and balances in place
06:27 - How his properties are being managed
06:51 - Tips for choosing a management company
08:39 - Managing managers from a distance
10:07 - What is his software program all about and how does it help real estate investors?
10:40 - Which investors are the software focused on?
11:11 - Where to find Sharad
"It's a better market to invest for rental in the US. But for long-term appreciation, I see a greater market to invest in Canada." - Sharad Mehta
"We're trusting the process. And if something doesn't work in the system, then the goal would be, okay, let's just go in and improve one step in the process rather than get overwhelmed with the entire process."- Sharad Mehta
"I'm big on that [systems and processes]. It's about just trusting the process. That's the only way we know things are moving forward."- Sharad Mehta
"How to manage the managers would be; I would definitely review the property management document that they provide you. And then be very clear about the maximum the property management company can spend without getting your approval." - Sharad Mehta
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