How do you vet a market when you can’t visit in person?

[Cole Bossert]

Let’s say you’re looking to invest in a new area but can’t physically walk the neighborhoods. What’s your go-to process for figuring out if the market (or micro-neighborhood) is worth the risk? I'm trying to do research on what exactly buyers are looking for when investing somewhere they haven't visited.

[Jason Zundel]

Cole:  Absolutely the stereotypical attorney answer rights off the bat - it depends.  If you are selling to investors who won't live in the property themselves, the numbers will do the talking.  Show crime rates, turnover rates, current expenses, avg rental rates, etc.  Paint them a picture using numbers, and the more detail the better, especially of working with more sophisticated investors. 

If you are selling to a homeowner that will live in the property, but won't have an opportunity to visit before the move for whatever reason, then paint them a picture with actual pictures.  And videos.  Numbers will still be important in a few aspects, but help them to see themselves in the home and area, of course putting the home in the best light possible.

Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.