Buying properties sight unseen: Is it worth the risk?

[Spencer Herrick]

There's no doubt that the clock starts ticking once a "deal" property lists. That being said, how many of you buy sight unseen to beat the clock? I couldn't imagine buying a property without seeing it in person first. It's amazing how good some of those photographers are........

[Jonathan Greene]

It all depends on your level of experience, whether your agent or boots on the ground have seen it and sent you video, how good the photos are at getting everything if it's a wholesale deal, and your risk tolerance. No first-time investor should be a rehab property sight-unseen. They would be better off putting their money in a pot and lighting it on fire.

If you are buying quick and sight-unseen to beat the rush, you are buying for the wrong reasons. As an investor, I don't compete because if I am competing, I am losing money. I know my numbers and comfort level and I am not rushing to buy blind because I think it's the only property like this - it's not.