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Updated over 5 years ago,
Making Offer Without Seeing Property
I am working on my first multifamily investment. I found two duplex's in the same area for sale and the numbers work nicely for me, but this is based on estimates for the current rents because that information is not provided. Both say they are fully occupied with long term tenants and I have not seen the properties in person. The last deal I was looking at was put under contract while I had an appointment to view the property 6 days later, so I was out of luck. Don't want this to happen again, so I have the following questions:
Question 1: Is there any chance of getting the rent roll without having the property under contract?
Question 2: Is it a bad idea to make an offer on both properties even though I can only purchase one? My idea here is if I have both under contract, I can inspect both and do my due diligence. I have read books where they say to make multiple offers every week, but I only have the capital for one deal.
Question 3: How necessary is it to see the property if the numbers work and the inspection goes well? I am not opposed to seeing the property, but it would be a 3 hour round trip drive for my realtor.
What are your thoughts? Thanks!