How to tour an investment property?

3 Replies

My business partner and I would like to visit and tour investment properties in our current location to see whats on the market as know as (window shopping). Is there a way if we found a property on how to contact the owner and request a tour of it?.

@Abou C.  

I would call a few local well known property management companies, invite the owner for coffee/lunch and ask about seeing a few vacant properties that fit within your price/model.  If they are hesitate, suggest you can even show up during a time they are already showing a property or two. You will get several things:

- time to ask them questions (have a list, 4-5 questions ... save as a note in your phone)

- build relationship with someone who might help buy or sell a house, who knows, might even be your property manager down the road ... make sure to mention this as you recognize their time is valuable 

- see overall condition/finish on properties so you have a sense of what you need to do in your rehabs/ make ready before tenants are placed 

- someone who deals with the properties you want on all the time, and can give advice and insight on where to buy, what they rent for, and any other idiosyncrasies of the area/block/town/city .. etc 

Hi Abou,

Are you talking about properties not even listed for sale?? If that's the case the owner will not want to bother their tenants.

If it's a listed property or the owner wants to sell then the buyers  are generally screened in advance for capability to purchase before being allowed to tour a property.

Kind of like houses that are worth millions. You aren't getting in to see it without showing bank statements first. Sellers and brokers don't want to waste time with buyers with no money or longshot propositions. 

Hope it helps.

Very true, great insight. 

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