Author Topic: Purchasing real estate you've never seen  (Read 4576 times)

nateypoo

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Purchasing real estate you've never seen
« on: May 05, 2016, 04:48:08 PM »
So I've recently read through this post and it is AMAZING.

https://forum.mrmoneymustache.com/real-estate-and-landlording/purchasing-real-estate-you've-never-seen-19474/

So I'm pretty new to this concept, but I LOVE it. At this time, May 2016, are there any specific cities anyone would share that are particularly wise for REI, or that they have had particular success in? And also, are there any specific team members (property managers/realtors/etc.) in that city you would recommend using?
« Last Edit: April 12, 2017, 05:16:52 AM by arebelspy »

CashFlowDiaries

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Re: Purchasing real estate you've never seen
« Reply #1 on: May 06, 2016, 08:24:45 AM »
I didnt read that thread but I can tell you that if you don't personally see the property you buy, you still need to have 3rd parties go in and verify stuff for you.  Inspectors, appraisers and video walk throughs of the property should all be steps taken before you actually buy.  You can get scammed easily.

I personally live in Texas, have bought 3 rentals in Indianapolis and 1 in KC and have personally only seen one of them.   I am very methodical and strict about what I buy though.  Cant just buy any house of course.   
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jeromedawg

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Re: Purchasing real estate you've never seen
« Reply #2 on: April 10, 2017, 10:25:08 PM »
Sorry for resurrecting this but just curious if anyone else is having issues accessing the post? I can't seem to get to it anymore...

On that note, I'm in the researching phase with all this still. I've heard good things about Memphis. Building a team is the part that freaks me out and probably the one where I'm dealing with the most analysis paralysis and not really knowing where to start..
« Last Edit: April 10, 2017, 10:26:46 PM by jplee3 »

NoNonsenseLandlord

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Re: Purchasing real estate you've never seen
« Reply #3 on: April 14, 2017, 07:25:58 AM »
I have purchased property at a sheriff's sale, without ever seeing the inside.  And with partners who I trusted. 

If the numbers are good enough, it may make sense to put money down and then go see it.