Buying a Kansas City investment property without seeing it in person.
Shopping online in many ways has become more common than shopping in person. It’s much more convenient to look for the items you want to purchase online than it is walking around stores for what seems like hours (at least to me). People are even getting the the point that they are buying vehicles online without ever looking at them in person. Though it seems strange, it should come as no surprise that people are even starting to buy Kansas City investment properties that way. What makes it possible for someone to spend potentially hundreds of thousands of dollars on a Kansas City investment property sight unseen?
Many times when a home is listed on the MLS or even listed as a FSBO, they sellers have a virtual tour done of the property. Sometimes those tours are as simple as someone walking through the house with a video camera, while others are more interactive and allow you to get a very good look at the property. Sometimes when people to include a virtual tour or there are very few pictures available that can be a red flag the seller is trying to hide something. Watching a virtual tour is a smart thing to do if you plan on buying a Kansas City investment property sight unseen. Drones, used by professionals, enable you to not only have a walk through of the interior but can lift up above the home showing the condition of the roof and the surrounding property. You will also be able to see the immediate neighbors or lack thereof. Additionally, you can see if the waterfront property is sitting on a puddle or the lake pictured online.
Make a Checklist
Before you request to see a virtual tour of a Kansas City investment property take some time to write a checklist of everything you want to seel in the property. Usually when it comes to investing there are a few key things you want to see if possible, the condition of the foundation, the hvac, the windows, and the bathrooms and kitchen. If possible, you may even ask for them to show you the electrical panel. From there you will want to see the over all condition of the home. It’s vital for you as an investor to know what you are getting into when buying a Kansas City investment property. Not knowing the condition of these items could potentially end up costing you thousands down the road. By being prepared prior to requesting your personalized video, you can feel more confident about buying a Kansas City investment property sight unseen.
You used to have to make a trip to the neighborhood the home was located in to find out more about the neighborhood. If you’re an out of state investor you’ll want to save yourself time and money buy doing all of your research through the internet. You can gather almost all of the data you need by using the internet. Use maps to look at the neighborhood, find amenities such as grocery stores, restaurants, and schools in the area. You can pull crime data for that area, and also pull up information on other rental properties so that you can make sure that you are going to be able to cash flow on your Kansas City investment property. The more research you can do on a property and the surrounding area the better.
Work With an Investor Friendly Agent
One of the absolute best things you can do when you are buying a Kansas City investment property is to find an investor friendly agent to work with. Unless you’ve got an abundance of time and knowledge about your target market to purchase a home, it’s wise to seek help. When you consider all of the required procedures for the real estate industry and all of the laws that pertain to transactions, working with an experienced professional is a very good move to make if you want to confidently buy a Kansas City investment property sight unseen. Hiring the right investor friendly agent could be the difference between a successful investment and one that becomes a major headache.
Take full advantage of the technology that’s available and complete your due diligence before buying and Kansas City investment property sight unseen. I work with out of the area investors on a daily basis and if you have any questions or need any help buying a Kansas City investment property, send me a message or give me a call at 913-708-1185 today!