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Real Estate Rookie

66: Rookie Reply: Buying Sight Unseen & Financing Off-Market Deals

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.81.7K Ratings

🗓️ 3 April 2021

⏱️ 19 minutes

🧾️ Download transcript

Summary

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 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

This is Real Estate Rookie Show, number 66.

0:04.2

My name is Ashley Care, and I am here with Tony Robinson, and today is the Rookie Reply.

0:15.3

What's up, Ash?

0:16.3

How was your day going?

0:18.3

Pretty good.

0:19.3

I'm still having major jet lag from Hawaii.

0:22.9

I was up to like 3 a.m. and then sluttles like 30 and so fun.

0:27.5

I don't know what's going on.

0:29.8

I was up at like almost midnight my time.

0:31.6

I sent you an email and you replied in like two minutes.

0:33.6

I'm like, what the heck are you doing up right now?

0:36.4

So that's the downside.

0:38.0

It's been a week in paradise.

0:40.2

I'm like super productive though.

0:42.3

During these late night hours, maybe I need to just change my whole sleep schedule.

0:47.2

I've been getting so much done.

0:49.4

I don't know if it's because the house is quiet.

0:51.6

So, you know, even, you know, if the kids are at school or my husband's on the

0:56.0

environment or whatever, and I'm still getting texts or emails, but so just everything

1:01.2

being quiet, I can just focus on stuff, I guess.

1:04.0

Yeah, the early mornings and late nights are like the best times for sure.

1:07.2

Yeah, yeah.

...

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