Out of Town Investors...here are some suggestions:
Ok, so you're looking to invest in an area, but you live somewhere else in the country or world? What now? I can say the majority of my clients are from out-of-town, so this is a tried tested and true system that works!
1. Check out our Live Inventory showcasing our hidden gems and sign up to our mailing list to receive cashflowing properties from across Western Canada as they come up...or we can find a great property together if you give me YOUR criteria...don't know what you want? I can help you there too...
2. If a property interests you, and you are already pre-positioned with one of our mortgage specialists, place an offer, yes- sight unseen! Remember, as Investors, we make our decisions on properties based on NUMBERS...not seeing the property, not getting emotionally attached...if the numbers work, and the property gets you closer to YOUR Goals/Someday... place an offer. Please do not place an offer if you have not confirmed that the numbers work for you.
3. Once we have an accepted offer and you are PENDING on a specific property, that is when you should come to view the property. We usually suggest to view the property WHILE the inspector is doing your Property Inspection. That way you get to see the property through someone elses eyes, and if there are any issues, you will know about them in greater detail.
4. The last step, is to confirm your financing, interview management companies and then remove conditions. You now have a great investment property without multiple trips to Edmonton.
Number one question: Why would I place an offer on a property before seeing it?
If you were going to invest in a stock, do you go to the company headquarters to view there carpet, light fixtures, and see what area of town it is in? Of course not. IF REAL ESTATE INVESTMENT is going to be an unemotional decision based on NUMBERS, you should keep your viewing until you have an accepted offer.
The second reason is I find MOST of the time, these great properties are not on the market for long. Please remember, we are not suggesting to you an average property. We are suggesting properties that are the best of the best, in demand and typically not on the market for long. If you book a trip to Edmonton just to view properties...MOST OF THE TIME, you will leave frustrated...by the time you get here, your great properties are off the market..now we are scrambling to find something available for the short period of time you're here...you typically won't get the best of the best. Why not come when you actually have a great property you CAN BUY, should you like it...with an accepted offer already in place.
Of course, every investors situation is different. But the above SYSTEM works the best, especially for those buying multiple properties...
|Join Our Mailing List|