Buying Sight Unseen - Advice for new Out of State Investor

[J Creed]

Hello Forum

I'm about to jump in to my first investment property. As my home market is unfavorable (Bay Area), this is going to be an out of state venture.  I've drilled down what I want and have identified several properties I'd like to offer on.  Any suggestions on what to beware of, ensure happens etc when dealing with a long distance purchase.  I'm working with an agent and have a property manager/contractor set up once the purchase is completed.  Both are professional and trustworthy.  But I may not be able to fly out to tour the places prior to purchase.  All advice is greatly appreciated.  Thanks

[Account Closed]

Hi J, it's nice to meet a fellow Bay Area investor! The most important part is getting a solid property management company. Since you already have that, leverage their market experience and send them the deals that you're considering to put in an offer for. They'll tell you what they think they can rent it for and how good/bad the neighborhood is. They can also help you review the disclosure package to determine how much rehab it'll need before it's rent ready. Once you have that info, it's just a matter of getting the property at the price that makes sense for you.