How often would you personally go and have a look at a property? I know there's no hard-and-fast rule, but I'd just like to see what's generally done.
1. Before purchase
2. After purchase
1. Before purchase
2. After purchase
how often do you 'visit' your IP?
- Thread starter crazylikeafox
- Start date
Before, I would say twice. Once when you first look at it, and if possible once with the building inspector.
After purchase, once a year and whenever there are issues that need looking after, I would say.
Having said that, I have one IP I didn't see until 2 years after I bought it. Living overseas it's harder to make regular trips to see the IPs.
In other words, is it an issue if you don't see your IPs that often? I don't think so. It's probably better if you visit them regularly, but it isn't necessary.
Alex
Depends on the Prop Manager
As I have just started to invest in the last 8 months, I am a bit worried that if I don't visit my IPs at least 2 times a year, the Prop Manager may not do proper inspections and let me know of wear and tear.
EG tiles cracking, water leaks (toilet, taps, unders sinks). We have all heard of the PM who only drives past and says everything is OK.
But cos all of mine are in my own city, I will be making an effort to visit at least twice a year, if my lease lets me....
As I have just started to invest in the last 8 months, I am a bit worried that if I don't visit my IPs at least 2 times a year, the Prop Manager may not do proper inspections and let me know of wear and tear.
EG tiles cracking, water leaks (toilet, taps, unders sinks). We have all heard of the PM who only drives past and says everything is OK.
But cos all of mine are in my own city, I will be making an effort to visit at least twice a year, if my lease lets me....
Looked at each of them once - either before I bought it, and in one case after I bought it.
After that, have never set foot in them again (despite being in the same city), that's what my PM is for.
I do however drive by them I'd say once every 3 months or so, but that's more of a pat on the back to remind me of what I've accomplished so far, or if I happen to be in the area looking for the next IP.
Cheers
Steve
After that, have never set foot in them again (despite being in the same city), that's what my PM is for.
I do however drive by them I'd say once every 3 months or so, but that's more of a pat on the back to remind me of what I've accomplished so far, or if I happen to be in the area looking for the next IP.
Cheers
Steve
I'd love to hear what more people are doing???? I am probably going to buy my first IP interstate and I wonder about when I should view the property?
My first Ip i saw just the once prior and only go and see it if there are issues i need to sort out which has been about once a year.
The other i saw once before i purchased and and been there once in the last 3 years.
The other i saw once before i purchased and and been there once in the last 3 years.
Before purchase:
Generally 2 or 3 times, I would go alone the first time, then would take Mrs BV along for an opinion/approval, and perhaps a 3rd time to have a closer look at things I missed earlier.
After purchase:
When the place is let out, I would probably go to the 1st inspection,
then I would only visit if there is a problem.
Next visit would be in between tenants to fix things up.
With all my IPs I drive past at random times throughout the year and have an external look.
If the tenant is untidy, I will be able to see if from the street.
I always introduce myself to my neighbours so if I drive past
I can stop over and say hello and ask if they have any issues with the tenants.
The neighbours always give me valuable feedback.
I prefer not to have much association with the tenants.
Cheers
I like to drive past ours when we are in the area just so I can say that's our house there 
I find the property, view once or twice before buying, then that's it for the ones managed by a PM, but more frequently visit the ones I manage myself. Some my husband has never seen, as he just signs where he is asked to when I say "Darling, I've bought another house - please sign these docs"!
Quite agree with BV. it's quite an individual thing, but we live close to ours so a casual drive-by is worthwhile. A good PM will handle the rest.
I like to drive past ours when we are in the area just so I can say that's our house there
Uh huh. Me too. Puts a smile on my mug
Nope, a bigger smile DJ
I did a national tour this year in June/July. I flew to Perth to drive my parents and boat back from and check on the Mindarie Quays residence. We decided to check out the real estate in SA, NSW, home through Sydney and the Central Coast. Then onto SEQ and up to Bargara, to check on the new developments there. A great way to spend time with my parents who are both nearly 80, and still interested in Property Investments.
I am hoping to go up and around same time next year. It's a great big country out there, and we just love driving around it.
I am hoping to go up and around same time next year. It's a great big country out there, and we just love driving around it.
After a while, it becomes just pay me the rent and don't bother me. In some ways I don't like getting emails from agents because it's usually bad news. I'm quite happy not seeing my properties at all. To me they're investments, just a collection of legal rights and numbers. I don't get the 'cool I own this' sort of feeling anymore.
Alex
Alex
