Quick Question for Investors: Would You Ever Buy a House Without Seeing It First?

[David Litt]

With today’s technology — virtual tours, drone footage, inspection reports emailed in minutes — buying a property without setting foot inside is more common than ever.

Some investors swear by it: faster deals, less travel, more efficiency.
Others say it’s a recipe for disaster and would never risk it.

I’m curious:

• Have you ever bought sight unseen?

• If yes, what safeguards did you use (inspectors, trusted agents, photos)?

• If no, what’s the one thing that would stop you cold without walking the property yourself?

[Greg Scott]

I've bought, owned, and sold properties that I've never seen and all have made me good money.

My mental model is this.  If I give somebody the opportunity to cheat me, they just might.  

With that in mind, I NEVER used an inspector, property manager, or other professional recommended by someone else in the purchase process that might be able to work together to put me at a disadvantage.  I found my own inspectors (and would pay them extra to take 3x the amount of photographs.)  I found my own property manager who would also come by and take a look to tell me what they thought I needed to do. I found my own financing and they hired an independent appraiser, one that did not have a relationship with the seller.

If you have enough independant eyes on the deal, it is much harder to get cheated as a buyer.