Hello Real Estate World!
I am wondering at what point do investors feel comfortable buying investment properties site unseen? Many of my properties go within the first couple hours on the board and I am trying to get more of a feel of what I could do to make my investors feel more comfortable with these types of purchases. I know if the numbers work some investors will pull the trigger no questions asked, but also on the other side of the spectrum some investors won't entertain the idea of buying site unseen. Looking for some feedback, thanks everyone!
@Mike DeBuccio Jr. I have sold several properties sight unseen in the last year here in the Chicago suburbs. I think it all boils down to trust, and I tell the clients that I will still be there to pick up the phone after they own the property. I refer them my contractors and continue to follow up after they close. There will definitely be things that go wrong, and estimating rehab numbers can be tough, but at the end of the day if the trust is there and the deal is good it should work out fine.
@John Warren That is a great point, thank you for bringing that up. I have learned that the key to success in the real estate world is building strong relationships with your clients. Being honest with them and letting them know you will be there with them through every step of the process builds trust, and trust is also key. If I can build the relationship with a client in which I do my due diligence and disclose everything I know about the property and they trust what I am saying enough to invest in a property site unseen, I can say I have reached the level of trust with them that I am striving for.
Also being able to provide investors with reliable contractors helps ensure that the rehab will be done correctly, even through the bumps in the road that you are almost guaranteed to hit during the rehab process. Its all about making your investors comfortable with you like you said! Thanks for the feedback.
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