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  • Profile photo of DanPDanP
    Member
    @danp
    Join Date: 2012
    Post Count: 2

    I would recommend many of Margaret Lomas' books. In particular "Investing in the Right Property Now!". Has a good in depth look at the market and what drives it, as well as how to find property, financing, and mistakes to avoid.

    As someone has mentioned, it is more of a conservative approach to investing and very much about buy and hold, positive cash flow property.

    But highly recommended, particularly for those new to investing who are unsure where to start.

    Cheers

    Profile photo of DanPDanP
    Member
    @danp
    Join Date: 2012
    Post Count: 2

    I regularly invest site unseen. When it comes down to it, unless you are qualified, there is not much your untrained eye could pick up by inspecting anyway. As everyone has mentioned, a quality building and pest inspection is the best option and obtaining photos if you can.

    Potentially seeing the property yourself can lead to talking yourself out of the property that otherwise has sound numbers and stacks up as an investment. It shouldn't be an emotional decision.

    I also recommend engaging a property manager not associated with the sale, and saying that you are looking at options for managing the property and would they mind inspecting it to see what it's like? A good manager will be happy to do this if it means securing your business (just be sure to research property managers too!!).

    I have no problem buying unseen. Always be sure to include clauses in your contract that stipulate a get out clause if any building/pest is not satisfactory (solicitor can help with this).

    Happy investing!!

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