Long-Distance Real Estate Investing book club questions

1. 1.

   Greene argues that local market loyalty is irrational for many investors. Does that argument resonate with your current thinking about real estate, or does it feel too risky?

2. 2.

   What criteria would you use to select a target market outside your home city? How would you know when you had enough data to commit?

3. 3.

   How would you go about finding and vetting a property manager in a city you've never visited?

4. 4.

   Greene stresses that a good local real estate agent is the most important team member for long-distance investing. What qualities would matter most to you in that relationship?

5. 5.

   What's the difference between a risk you can manage through good systems and a risk that makes long-distance investing genuinely inadvisable for your situation?

6. 6.

   Have you ever made a major financial decision based on proximity or familiarity rather than fundamentals? What happened?

7. 7.

   How does owning property in a city you don't live in change your relationship to the investment? Does the distance make it easier or harder to think clearly about it?

8. 8.

   Greene recommends developing the ability to analyze photos and inspection reports remotely. How would you build that skill if you're starting from zero?

9. 9.

   The book was published in 2017. Which of Greene's arguments about technology and remote management have become more true since then, and which have become less relevant?

10. 10.

    What would a minimum viable team look like for your first long-distance deal? Who would you need before you could responsibly make an offer?

11. 11.

    Greene argues that bad markets don't get better fast enough to be worth waiting for. How does that principle apply to your current local market?

12. 12.

    If you could only invest in one out-of-state market for the next five years, how would you decide which one to pick?

How to run the discussion

• Pick six to eight, not all of them. An hour of real discussion covers fewer questions than anyone expects, and racing the list is what makes a book club feel like homework.
• Open with what people noticed, not what they concluded. Asking for a verdict first hardens opinions before anyone has heard each other.
• Let the disagreement run. The questions below that split a room are the ones worth the time; the ones everyone answers the same way can be skipped.
• Ask the quiet person a specific question. A direct, narrow question is far easier to answer than an open invitation to contribute.