Making Offers On Investment Properties

[Lorenzo Spurrier]

I'm working on getting my first fix and flip out of the way. I went through the MLS, found some interesting properties, scheduled showings and visited these properties. Out of all the properties I went to, there's only about 2 or 3 that I'd considering making an offer on, that I found to have potential. I felt like a lot of time and gas had been wasted walking through these properties.

I have another idea to prevent wasting time/money, that I think may be better but I'd like some opinions on it...

Would it be a bad idea to make offers based off of photos/virtual tours, if said offer gets accepted, use my inspection period to walk through and either go through with it or back out? Is this unethical? Is this a horrible idea? I'm looking for opinions.  If you think I'm a straight up moron, tell me.  Don't worry about offending me I have thick skin.  Thanks!

[Mark Trebor]

I think this is a common tactic used especially in a hot market.  But.... you can only back out of so many deals before the realtor you are working with might not want to help you anymore.  You're now wasting his/her time as well as yours so tread lightly.  I have a good working relationship with my Realtor she knows what I want sends me the listing and if I say I am interested she ask the seller for permission to video tape the property she share the video with me and then we decide if we are going to make an offer based on that info.  I buy houses 100+ miles away from where I live so checking out every house in person is not feasible. I think the last 6 houses I never set foot in until sometime after owning them.