Hi all,
I would like to add some distant properties to my portfolio but am unable to travell. Can some one advise me on ways to find people in other states that are competant enought or that profesionaly inspect property and report with some guarantee.
would appreciate any advise.
GlaucoHi Glauco,
One way is to contact the relevant authorities who may have a list of licensed operators who work in the area.
Another way is to use a reputable brand name company where appropriate.
Another way is to find a property and then ask the question on the board – does anyone know a good ….. in X?
Yellow pages.
You may find in some of the more distant localities you may have to rely on word of mouth from locals.
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
Hello Glauco,
probably your best bet is to use a buyer’s advocate to source property. Do a search on the internet for companies specialising in this type of property purchase. If you advise the area you are interested in, perhaps someone on the forum might be able to provide a recommendation. [thumbsup2]In reviewing advocate web sites, you will get an idea of what you can expect in terms of value for your dollar. If you go down this path, make sure the company only acts for you, the buyer. If the company has a real estate arm, this suggests a possible conflict of interest — with you the loser.
One other point. These companies can be expensive.[ohno2] I believe they charge a percentage of the purchase price. What guarantees can they provide of their independence and prior success. If they throw a heap of testamonials at you, I would tread warily. A guarantee — preferably no money up front, until they have found the right property for you — suggests they are sure of their ability to meet your requirements.[worried]
As you are unable to travel, make sure they are able to communicate fully to assist you in your purchase decision. eg. digital photos.
The final thing I could recommend — and this is a long shot. Once you find your property, ask if there is anyone on this forum who would be willing to check it out for you in person. There are so many wonderful people here that I feel sure someone will step up to assist you.[angel]
Hope this helps. Lots of luck with your investment programme.
Regards,
Helen[cap]WHY??????????
If your going to spend several hundred thousand dollars, whats a few thousand dollars in going there yourself to investigate.
Is investing away from your home that much better than near home.
I am unable to travel and look at some of the areas that interest me and it has nothing to do with money. It comes down to duty of care and family obligations. I’m not going to go into the long story of why – but for me one or two trips a year is the absolute maximum.
In one particular instance I found that a really helpful solicitor sourced people to carry out inspections for me. The actual legal secretary that I spoke to over the phone (I developed quite a raport with her) was more than willing to chat about the best and worst areas of town.
That said I’m not bold enough to buy without at least having a look at the area and knowing what streets/sides of the railway line/subrubs etc are just off limits for me on a personal level.
Not being able to travel even for an overnight visit really makes it hard and frustrating.
Cheers
SonjaGlauco,
You don’t have to go and see a property. You can do your own research on the internet. It depends on what and where you want to buy.
If you can’t go and visit properties (for example, if money’s a problem) then you’ll be paying a buyer’s agent that $1000-$2500 for the privilege of them checking it out for you. It’s likely that you’ll want to see your properties eventually, so you may as well DIY, although Margaret Lomas has never seen some of hers- go figure.
kay henry
You must be logged in to reply to this topic. If you don't have an account, you can register here.
