How Do You Evaluate Distressed Properties from a Distance?

[Shaun Ortiz]

Hey everyone,

I’ve been diving into the world of distressed properties and foreclosures but have been focusing on doing it all remotely. I’m interested in how others evaluate and track down these kinds of properties, especially from a distance.

For example:

1. When looking at distressed properties in other states or cities, what are your main indicators that it’s worth pursuing?
2. What tools or methods do you use for conducting property analysis without stepping foot on the property?
3. How do you build trust with homeowners or sellers when you can’t meet face-to-face?

I’m still learning but would love to hear about any tips or methods that have worked for you. It’s fascinating how technology can make these deals happen remotely!

Looking forward to hearing your thoughts!

[Dominic Mazzarella]

Quote from @Shaun Ortiz:

@Dominic Mazzarella

Thanks for sharing your process, Dominic! I really like the idea of leveraging local contacts for walkthroughs and feedback. It’s a smart way to get eyes on the property without being there yourself.

When you’re working with sellers, what’s been the most effective way for you to establish trust remotely? I imagine it can be tricky without face-to-face interaction, but it sounds like you’ve got a solid approach.

Honestly, I don't have a process for establishing trust with sellers other than being polite and professional. Not blowing off their communications and things like that go a long way. I used to be in finance and they'd have scripts for interactions like that as newbies but I would say just try to be yourself.

I try to find their true reason for selling early on. They won't always be upfront about this with you but if know they're selling because they want to retire, that opens you up to different options vs if they're an investor just selling for profit.