Questions to ask Agent about property?

Question

Hello all, I am investing out of state and was wondering what info should I ask my RE Agent to find out for me on a property I am interested in from the listing agent. I know for example confirming rent, vacancy and expenses for starters. Anything else?

Jeff Copeland · Answer

Date of construction. Type of construction (wood frame or block?). Age and conditions of major systems (roof, plumbing, electrical panel, HVAC).

I often create a video walk-through of properties for my out of state investors and upload it to youtube (example here). Video gives you so much more perspective on the floor plan and other observations that can be missed in still photos.

Eric DeVito · Answer

@Keith Weigand thanks for the tips. I actually plan on using property management as I am a newbie who will be investing out of state and also work full time job. I figured things would run smoothly that way.

Keith Weigand · Answer

Seems elementary but here I go, unemployment in the area? area growth? New area business development projects? Have you thought about vendors to maintain the property? (vendors, managers). Do you plan to manage the property yourself? I self manage a condo in Clearwater, FL. The only hiccups was initially finding good vendors. Of course a great tenant is the foundation.