Founders Club - For Real Estate Entrepreneurs: How to Invest in Out Of State Properties 🏠💰

How to Invest in Out Of State Properties 🏠💰 | Founders Club ft. Maureen Mccann

Jun 4, 2019

In a recent Allianz Life survey, more than 75% of people age 44 and up said that they fear outliving their money more than death! Real estate investing is one of the best ways to generate the kind of passive income that can take away that fear, but most of us don’t have the time or the talent to identify a good property, renovate it, find a tenant, get it cash flowing and manage the asset long-term. Is there a way to invest in out-of-state rental properties and earn mailbox money without being actively involved in the process?

Connect with Founders Club Host Oliver Graf on Instagram

Maureen McCann is the VP of Sales and Marketing at Spartan Invest, a turnkey real estate investment firm based in Birmingham, Alabama. Spartan has made the Inc. 5000 list of fastest-growing companies in the US four years in a row. Today, Maureen joins Oliver to explain the benefits of turnkey investing in out-of-state properties, discussing how Spartan Invest identifies markets for cash flow and what criteria the team uses to select investment properties.

Maureen offers insight around the Spartan approach to renovating single-family homes and describes how the business collects recurring revenue on each sale through property management. She also addresses the different ways to buy out-of-state investment properties, from traditional financing to leveraging a retirement savings account. Listen in to understand how Maureen’s team is using Shopify to sell real estate and learn how her turnkey business helps clients generate cash flow and live a worry-free life!

Key Takeaways

[0:39] The fundamentals of turnkey investing

Way to help investors create passive income
Seller finds, renovates and manages property

[1:42] How Maureen got into real estate

15 years in pharmaceutical sales (quiet discontent)
Real estate flipping bootcamp, masterminds
Started pitching real estate to doctors on route
Offered position as consultant at Memphis Invest

[8:31] Maureen’s transition from 9-to-5 to real estate

‘Say YES and build airplane on way down’
Left W-2 during divorce, near bankruptcy
Show kids how to get back up + keep fighting

[16:26] How Maureen identifies markets for cash flow

Job creation and population growth
Diversity of industry (stable economy)

[18:09] How Maureen identifies investment properties

Look at crime rate, school rankings + average income
% of renters vs. owner occupants (40% to 50% ideal)
Properties in B class areas with no signs of blight

[23:05] How much Spartan Invest puts into renovations

Focus on distressed but not dilapidated properties
Invest $30K (defer maintenance as long as possible)

[27:56] How people typically buy homes with Spartan Invest

75% use conventional financing
Retirement accounts

[38:17] The drawback of investing with retirement funds

Set aside reserves for deferred maintenance

[41:51] How Spartan Invest handles vacancies

System in place to get back on market quickly
Only 4.2 days to get property ready to rent

[45:45] The Spartan Invest referral program

$1K per door referral fee

[52:21] Maureen’s latest international turnkey venture

Help foreign service officers invest stateside
Teach masterclass at embassies

[53:05] How Maureen’s team is leveraging Shopify

Available properties listed in one place ($30/mo)
Investor gets link + password, reserve through site

Founders Club - For Real Estate Entrepreneurs

How to Invest in Out Of State Properties 🏠💰 | Founders Club ft. Maureen Mccann

How to Invest in Out Of State Properties 🏠💰 | Founders Club ft. Maureen Mccann

Key Takeaways

Connect with Maureen

Connect with Oliver

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