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Updated over 6 years ago on . Most recent reply

User Stats

985
Posts
1,004
Votes
Gregory Schwartz
  • Rental Property Investor
  • College Station, TX
1,004
Votes |
985
Posts

Out of state, sight unseen investing

Gregory Schwartz
  • Rental Property Investor
  • College Station, TX
Posted

BP,

Kinda freaking out a little, just made my first offer on a property from 700 miles away in a town I've never been to, on a quadplex I have no intention of ever seeing in person. To clarify this would be my first investment property. Basically, I'm taking a leap of faith, using lessons learned in "Long-Distance Real Estate Investing" to hopefully build a passive income stream. 

Hope my research pays off.

Basics on this first deal... 

Quadplex (Four x  2 bed/ 1 bath)

Asking 170k

Offer 155k

Rent per month: $1640 (market supports $1800-2000)

I'll try my best to provide updates on my huge success (or major flop)!

business profile image
Schwartz Realty Group
5.0 stars
61 Reviews

Most Popular Reply

User Stats

985
Posts
1,004
Votes
Gregory Schwartz
  • Rental Property Investor
  • College Station, TX
1,004
Votes |
985
Posts
Gregory Schwartz
  • Rental Property Investor
  • College Station, TX
Replied

I blindly signed a 8 year contract with the USMC that has turned out all right. This seems less risky than that. I feel comfortable with the team so far and have had good recommendations from BP members. 

Win or lose on this deal I'll keep you all up to date 

business profile image
Schwartz Realty Group
5.0 stars
61 Reviews

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