Long distance real estate without the visit

[Jennifer Roberts]

Hello all, I'm currently doing a 1031. I have approximately 55 days to purchase. I'm selling California real estate and the prices of course are high, and I'm moving to a more stable market. I've decided to purchase near military bases in an area that has good wages/price/rent ratio. Possibly an airbnb as well. With that said, time is of the essence. Even though I've read "the books" and am in contact with trusted real estate agents, wondering what your thoughts are, if you are an experienced long distance real estate investor that buys sight unseen. Any info is greatly appreciated!

[Doug Spence]

I have purchased multiple investment properties out of state, without seeing them, and I haven't regretted it once. Unless you are a home inspector, appraiser, or are otherwise very knowledgeable about what to look for in a property (I am not!) then you're just wasting time and money by going to look at it. It's much more important to have a rock star real estate agent who understands your goals and what you're looking for in a home and neighborhood and then just hire a great inspector to check the condition of the home itself. If you have the right people in the right jobs, then you can mitigate the risk of buying out of state, sight unseen. 

Do you think the big-time real estate investors walk through every property they purchase? No way. They have people for that, and these people are way better at looking at properties than they are. 

Good luck on your 1031 and keep us updated on your journey!