Real Estate Logistics is a fancy title that isn’t perfectly related to what I’m going to write about now. But it sounds cool.
And a picture I took in the port of Tampa is cool. It’s a picture of a boat. Hence the “Logistics” in the title :)
I got an email from a friend the other day. He asked about a property he found. A really good property with a great cash flow. The problem was its location. It was far away from where he lives and potentially also far away from where most people wouuld want to live.
As a result the price was very competitive, so if he could keep it rented, he could make some good money. But, at a cost. Mostly because of the bad logistics.
If you live far away from your investments, you are either stuck spending a lot of time traveling to and from the property or you risk havng to pay a lot for property managers and contractors.
In order to make it work, find good people that can work for you and be prepared to go there every once in a while to meet new renters etc. Estimate a little less return and slightly higher running costs.
Here is a second photo of the boat:
And here is a video from flying around the boat with my drone:
And that’s the Real Estate Logistics post.