How is it possible that some investors put contracts on homes they never see?

General Real Estate Investing
1

I’ve noticed in a few of the threads and articles on this site that some investors will purchase properties sight unseen. I find this really puzzling, how is it possible to make a proper assessment of how much profit can be made (if any) without at least physically inspecting a future purchase? The same question applies to investors who purchase homes out of state. Now I realize that if there is a partner or a RE agent who can provide reliable information then that would make sense to complete a purchase without seeing the property. But I get the impression from some investors that they make buys without even having another person around to inspect the potential investment.

Does anyone here invest in this manner? What’s your criteria for making a purchase without seeing the property?

2

Inspection & Partner Approval clauses…

Give yourself as much time as you can, let your wholesale partners inspect it for you.

You can also ask the owners:

What ballpark do you think the repairs are? (use their high value)

What is the ballpark value? (use their low value)

Try to determine their motivational factors also.

Then start the negotications. "So if I’m to understand your house is worth “low value” and needs “high value” in repairs, is this correct?.. continue to talk and work down the price each time.

Then put the contract in with your clauses…