Updated over 5 years ago on . Most recent reply
New Member Salt Lake City
Hello everyone!
I am an accountant in Sandy, UT near Salt Lake City. My first real estate purchase was in Jun-16 and my second was in Nov-18 with an out-of-state duplex in Columbus, OH. I still have never seen this duplex, but I'm told it's nice and it is working out just fine.
I love learning about real estate estate, talking about it, and working in it! My love of real estate has led me to work in the homebuilding industry full-time. I am also the founder of Integrity Financial, LLC, a cloud accounting and financial services company which helps businesses with their accounting and also saving money on taxes.
Please reach out if you would like to connect!
Josh, CPA
Most Popular Reply
@Remington Lyman @Robert Ellis this deal was a renovated duplex right between Bexley and Whitehall. My partner is from Columbus and lives out of state also so I think he had his mom go out a take pictures for us.
I don't think it's always necessary to see the deal before buying. It's helpful, but not required. My reasoning is this is an investment, so it's purchase purely a numbers decision, no emotion. I can get all the detail I need online to run a deal (insurance rates, taxes, rents, crime rates, school ratings, etc.)
It also important to have a good team. My agent specializes in investment properties and and we were able to get a management company recommended. Because of this, the property is truly a passive investment.
That said we had to rely on an inspector and our agent to find issues with it. They are not going to catch everything, so on that note, it could be helpful to see it in person.
Josh