Is buying without looking advisible?

we have twice now but in both cases it was a strategic purchase and irrelevant to us about the quality of house. It really depends on what you are after and your SANF.
 
We bought sight unseen interstate on two occasions and were pleased with the outcome.

We had pest and building inspection carried out, checked out the area on google maps, checked RP data, spoke to a few real estate agents, got a couple of property managers to drive past / enter and give us their assessment and all turned out fine. If you complete all your due diligence, don't think you can go wrong.

Would I do it again ? Yes, I would.

Where are you looking at buying ?

Good luck !
 
got a couple of property managers to drive past / enter and give us their assessment and all turned out fine. If you complete all your due diligence, don't think you can go wrong.



If there's a few PM that would drive pass/enter and give assessments, I would buy sight unseen too.

btw, do you need to pay the PM to drive pass/enter?
 
Nah ...I just told the PMs that we were strongly considering purchase and if they would be willing to give us a their fair assessment ..and they did. In fact one PM even told us how she could help organise a basic reno which would improve the yield, we obviously went with her.

Have a chat to a couple of PMs and check if they will undertake this for you.

If you posted here about the area you are considering and asked forumites for suggestions on PMs they use, you could come up with some great opening lines.
 
Sight unseen

Same.

I would do it again.

Regards JO

Yep... Did one six months ago, doing another one again as soon as i get the contract in hand. Both Brissie, both on sight managedwith good rental return...
Whatever you want to know can be done remotely via residex,rpdata,B&P inspections...
 
Our family has done that several times, but usually for smaller things like 400k townhouses. Wouldn't want to do something like that in a multi-million dollar acquisition.
 
Contract gets mailed to you usually by express post. You do the signing then post it to either the REA or the vendor for him to sign.Everything else is done via email, phone calls and online banking...
 
I'm going through this now.

I knew the area I wanted to invest in so it was just a matter of finding the right place (I'm from Canberra and want to purchase in SE QLD).

Use google maps/earth for the visual picture - it will also assist in identifying local transport infastructure/schools/shops ect.

Speak with PM's in the area - tell them that you are about to purchase within the area and are considering using their services. Ask them if their familar with area and if it's a unit - ask if they know or manage other units in the complex. The PM we're going with is conducting the final inspection before settlement.

Also, make it subject to a satisfactory (or whatever word you like) building and pest inspection report. Organise for the inspector to take digital pics of the place. Maybe even give them a call when their at the property and speak with them as their going through it.

I'm new to buying site unseen (well I guess I'm new to property investment in general) but from what I've gathered - it's about getting as much information as possible (that way you'll be confident with your purchase and the risks will be minimised).

In fact - it sounds bad, but I've probably done more DD with my second IP (site unseen) then the first IP that I purchased close to home.
 
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