Strategies for Buying Local, Sight Unseen

[Jamie Briscoe]

Hi BP Fam! So I came across a nice little duplex in my area, a recent flip, decent rents at 1650, PP of 100K (nicest % I’ve seen in a while, considering the 1% rule). I immediately reached out to my agent asking to schedule (morning after it was listed), and was told they were entertaining two, and potentially a third offer by noon. Womp womp. As I was putting together a sight unseen offer, estimating expenses/vacancies %, I was informed they accepted another offer. Disappointing as it was...that was my first attempt at a sight unseen, that happened to be local. For local or long distance investors, do you have any strategies? It came to mind that your agent could request any documentation the owner has (rent roll/expense details/vacancy rate,etc.) to assist in decision making, but I assume some people may actually make offers only from pictures, purchase price, and rents. I’m curious as to anyone’s sight unseen analysis process, local or long distance.