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Spent a pleasant Monday afternoon inspecting my IP’s in WA’s northwest and had a discussion with my manager and agent who sold me them some 2 years ago.
I was surprised to hear that in all the properties they have sold in that time and have under management only myself and on other invester had bothered to go and see what they are buying and I was the only owner to ever go up and inspect.
That surprised me as there are a lot of very bad run down places up there (of which I was lucky to get out of 2 deals last year) that people are buying sight unseen. The agent and PM were surprised too.
Sp what have people been doing when buying from afar? Going madly after the CF+ dollar helter skelter or judicously buying value?
Later………..
If you think you can you can, if you think you can’t you can’t.
hi hotrod
i don’t think you necessarily need to inspect a property to buy value. the golden rule i employ is to spend the couple of hundred dollars and get the property inspected before purchasing. like others that have growing portfolio’s in virtually every corner of the country, with my other business commitments i could not manage to visit every prospective purchase.
cheers
Eric
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