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Updated over 5 years ago on .

User Stats

17
Posts
7
Votes
Rik Chatterjee
  • Rental Property Investor
  • Phoenix, AZ
7
Votes |
17
Posts

Buying out-of-state off-market stressed property

Rik Chatterjee
  • Rental Property Investor
  • Phoenix, AZ
Posted

Hi,

I found a stressed property (C class) in a nice neighborhood (B class) while on a business trip - a good candidate for making a deal. However, I have never purchased an off-market property, hence need some advice from the experienced folks on Bigger Pockets.

I need advice on:

1. How should I approach the owner? I have found the name of the owner through county tax records, but don't have any contact numbers.

2. Would it be advisable to hire a real estate agent to open the discussion on my behalf? Or should I rather get started myself and then bring in the real estate agent when the owner agrees.

3. I have not purchased a lot of properties myself and do not have experience in rehabilitation. Is this a big NO-NO for purchasing a stressed property out-of-state?

Thanks in advance