When I first came up with the name of my blog, I felt pretty good about it and even gave myself a pat on the back for it. How appropriate! I love real estate and running, so running for real estate was created.
RUNNING FOR REAL ESTATE
Last weekend, I had the chance to literally run for real estate. I ran from home to a house in Carmichael that one of my out of town buyers was very interested in. I put my MLS key inside the pocket of my water hand held bottle and off I went all giddy at the thought of putting the title of my blog into practice. I felt like an inventor who is about to test his/her own creation after all the hard work that went into it. I felt like being a runner and real estate broker with a bigger purpose. I felt like a super efficient business woman mixing work with running. It was great to be able to do that.
Once I arrived at the house, I took a great video of the neighborhood and the house for my pre-approved buyer who was looking to move to Sacramento. Later that day, we made an offer on the house, but the buyer did not accept the seller’s counter offer, so we’re looking for other homes.
10 Tips on buying a home sight unseen:
- When buying rental properties, it is easier to buy something based on capitalization rate, as it is all about return on investment. Thus, having your agent take a video of the area/neighborhood and the house will be enough to help you with the purchase.
- Videos can be great, but doing your own research regarding the neighborhood, schools, freeway access, shopping, public transportation, and parks is key when deciding to make an offer on a house that you have not personally seen inside.
- Make sure your agent is honest and can share his personal opinion about the house, as if he/she were to purchase the house for themselves.
- Ask your agent the following question: “Would you purchase the house if you were me?” “Why? Why not?”
- Ask more questions about the location of the house, such as busy street, proximity to shopping, transportation, etc., because the video is just not enough in making the decision.
- If making the offer first and then seeing the house inside once the offer has been accepted, which is not recommended for buyers planning to live in the house, unless they are very familiar with the neighborhood and floor plan, be open-minded. Reality is sometimes different than a short video.
- If making an offer on a house just like I helped many international and out of state investor buyers without seeing the house till after close of escrow, make sure you obtain a thorough home, pest, and roof inspection to know what’s in store for you. Even with those inspections, there might be items such as the roof, or heating and air that will require work, so be prepared for future repairs/remodeling.
- Make sure you hire a good property management company that will get you a good tenant and help with the maintenance and repairs.
- Arrange to see your investment property shortly after close of escrow if possible. I helped my mom buy a house this way in Savannah, GA and she only got to see the house a year later. Luckily, she liked the house and was happy with her investment property.
- Enjoy the adventure and find trustworthy professionals who can help you purchase the right property.
For more info on running and real estate, whether buying or selling, please e-mail me at firstname.lastname@example.org, or call me at 916-342-2446. Running for real estate with joy!