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Step 1
Research absentee investment possibilities suited to your resources. This is key to a successful project. Absentee investments can include franchises, real estate or retail stores. Franchise magazines, Internet searches and local newspaper classifieds are good starting places to find the best absentee investment opportunities for your area.
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Step 2
Narrow your search after you have identified possible absentee investment opportunities. Decide which investments will allow you to make a profit without being an active participant. Franchises or retail operations without valuable inventory (that are less likely to be stolen by managers or employees) and real estate property that does not need valuable remodeling are good possibilities.
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Step 3
Contact the sellers of the investment properties or businesses and request detailed information on the business or property and current profits. Interview other knowledgeable parties about the investment or property. If the seller refuses to give you information, it is best to pass on the investment.
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Step 4
Complete a physical inspection of the business or property. Take a writing pad, tape measure and a checklist appropriate for the property such as the Investment Home Checklist from the Wells Fargo site.
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Step 5
Finance your investment. This step requires that you get a purchase agreement, loan and complete a closing. Your loan officer will help with all of the details of this step so find someone you feel comfortable with to guide you through this process.
