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Rookie Reply: Buying Sight Unseen & Financing Off-Market Deals
Episode 66
Published 5 years, 2 months ago
Description
This week’s question comes from Mitch on the Real Estate Rookie Facebook Group. Mitch is asking two questions: How do you close on a property sight unseen and how do you finance off-market deals?
Our two lovely hosts have expertise in both of these areas. Tony has bought a fair amount of property sight unseen and Ashley has used some very creative strategies for financing off-market deals.
Here are some suggestions for both of Mitch’s questions:
- Get your agent, inspector, and general contractor to inspect a prospective sight unseen property
- Don’t waive the inspection clause, especially if you’ve never been in the property
- Look for lenders that aren’t traditional banks, especially those that work with investors
- Ask local banks if they offer any products that could help with your funding
- Use a line of credit or borrow against your stocks/other assets
- Ask for seller financing whenever possible
- And More!
If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE).
Check the full show notes here: http://biggerpockets.com/rookie66
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