Starting Out
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 10 years ago,
Precautions to take when investing out-of-state and sight unseen?
I am very new to real estate investing but have been diligently reading everything that I can here on BiggerPockets. One thing that is holding me back is that I live in a high cost of living area so I've concluded that I'd have to buy out-of-state if I want to cash flow. I know that you can still do your due diligence when investing out-of-state by going online and checking citydata forum, Zillow, and neighborhoodscout, to determine whether you want to invest there. Are there any other sites you would use?
Another hang up is that I will likely buy it sight unseen. I'm not sure if me actually seeing the property holds much value if I'm getting a professional inspector and an appraisal, but I can't help but get a sense of paranoia being that I won't physically see it and that I'd have to trust someone else's word. Is there any other precautions to take?
One of the areas that I'm looking into is the Kansas City area, and I found a company called investmentscouts dot com (sorry not sure if I'm supposed to post links) and they appear to be an independent third-party which will check out the property giving you an overview of the condition and/or make sure the contractors are doing as they say (if you are rehabbing). Has anyone heard of them and is their service something that is worthwhile?
Thanks!