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Tips for Buying an Investment Property Sight Unseen

Palisade Property Manager on a Video Call with a Remote InvestorIf you’re preparing to add a new rental property to your investment portfolio, you may be thinking of buying in a market at a distance from where you live. There are numerous rationales to doing this, certainly if you determine a certain market is ideal for owning a rental home in Palisade. You may even be tempted to purchase your new rental property sight unseen. Cause definitely, quite a lot of rental property investors do, and it can work out okay. But really, buying a rental property sight-unseen does have a few potential pitfalls that you’ll primarily need to avoid. To help you obtain your next profitable rental property sight unseen, here are a few of the top suggestions offered by real estate experts.

Get a good real estate agent.

The most important thing you can certainly do to successfully buy a property sight unseen is hiring the right real estate agent. There simply is no substitute for working with someone who comprehends the local market, has expertise in the type of property you want to buy, and is inclined to send you detailed information about each listing. To make certain you hire the right person, ask for references, ascertain their experience, and perform interviews. You’ll be working closely with this person, so getting a good fit is essentially relevant!

Ask the right questions.

Whether you plan to tour a listed property or not, you need to ask a lot of questions and gather as much information as you can. This is mainly correct if you can’t be on-site to see certain things for yourself. Take, for example, you should have your real estate agent send you a floor plan or, if one isn’t available, the dimensions and rough layout of the property. Additionally, make certain to ask about the visible form of the property and things like sounds and smells. These are things that just the photo will not convey.

Research the area.

Not only do you ought to know very well the details about the property, but you’ll likewise want to figure out as much as you can about the potential new neighborhood. One great way to start this is by just using Google Earth and Google Maps to view the property’s street. You might similarly ask your real estate agent to include a walking tour of the area in a video tour of the house so that you can get a better sense of the surroundings.

Request video tours at different times of the day.

Usually, one of the best means to learn a lot about a potential property is to look at it several times, at different times of the day. A property may have the appearance of being on a serene neighborhood lot in the morning, only to discover that there are boisterous neighbors, late-night train sounds, or other nuisances occurring after dark that your daytime tour would have missed. Things can look very different in the daylight than they do once the sun goes down.

Enlist friends and family to help.

If you happen to recognize anyone leasing near the rental property you want to buy, try asking them to tour the property and drive around the neighborhood in your place. A second set of eyes never hurts, and they may detect parts that your real estate agent missed (or didn’t want to report). As a resident, they can furthermore share with you a better insight into the characteristics of different parts of town and the property’s neighborhood.

Get an appraisal and a home inspection.

One final note, you should have a professional appraisal and home inspection done. Though some lenders require both as part of the financing process, you should still organize a professional inspection even if it isn’t required. The inspection and appraisal can notify you of any number of challenges, from serious structural problems with the property itself to components that may greatly impact your property’s value. These are things you need to have an idea of just before committing to the purchase.


Of course, one of the best ways to buy a property sight unseen is to purchase one that Real Property Management Now manages. Our Palisade property management experts know every detail of the property and can often help you find off-market deals before they’re even listed. To learn more, contact us online.

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