Do You Walk Every Property Before Making an Offer?

Question

How important is an in-person walkthrough to your buying process?

Have you ever passed on a deal after seeing something photos didn't reveal?

Denise Supplee · Answer

From my experience, whether you're investing actively or passively, doing your due diligence is so important. You may not always be able to walk every property yourself, but I'd want as much information as possible before making a decision. The more you know upfront, the fewer surprises you'll have later. Wishing you much success!

Stuart Udis · Answer

Not only do I highly recommend walking the property, but unless you already own real estate in close proximity, I strongly suggest spending time walking and observing the immediate area during the morning, afternoon and evening, on weekdays and weekends.

This is especially important with C/D real estate. You need to understand what is actually happening around the property at different times of the day and week, not just what a spreadsheet, listing or Google street view tells you.

To suggest you can't scale and perform this level of diligence is further from the truth. You scale by making informed investments. When you start missing important details in underwriting and make rash investment decisions everything can unravel very quickly.

Andy Sabisch · Answer

I know that some people have no issues investing long distance but nothing beats eyes on the property before pulling the trigger.  We have had properties that looked good online and its amazing how just the right angle can make a problem disappear - cracked foundation, chimney pulling away, wavy roof, step cracks going through bricks, burned out or crack house next door . . . the list goes on.

We focus on local properties that we can look at the property, the area and then the progress as work is done.  Personally we would not make an offer that either us or a fellow investor has not walked.

Jake Yuskaitis · Answer

you can never walk every property and do RE investing at scale

virtual walkthroughs, boots on the ground, inspections

Eric Gerakos · Answer

Yes.

Do You Walk Every Property Before Making an Offer?

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