Who can view my purchases?

[Adrian Britton]

Hello fellow hubbers

 

I'm considering going on a spending spree all the way from Australia, and for the life of me can't find any information on how to go about getting help with the viewing process from overseas/remote locations.

 

I know this game is mostly about "who you know", and I know that investors have trusted friends/agents, and part time resources, but how does one locate a trusted source.

 

If any of you have any recommendations, or advice, that would be much appreciated.

 

For what it's worth, I'm looking at Manchester and the other tier 1 regions in the so-called Northern Powerhouse.

 

Help. Please!

 

Cheers

AB

[Stoil Topalov]

Hi Adrian,

 

Are you looking for refurbs/flips or buy to let's?

 

i've bought remotely before and it was a combination of speaking to a few estate agents (what would they market the property for/ do they think it needs any work doing' what has been the feedback of other viewers), doing my research online (previously sold prices on that street, price trends, recent activity, I.e. Is it mostly buys/sells or rentals), lastly when I knew I was really interested I paid £600 for a local RICS surveyor to see the property and prepare a comprehensive structural survey.

 

in the context of a house purchase of 50-60k, £600 for a survey really didn't seem all that much...

[Adrian Britton]

Hi Stoil,

 

I'm looking at buy-to-lets - mainly because of the extra layer of complexity and risk to refurbs and flips. I think that the survey is solid advice, and it was probably something that I would have done anyway for peace of mind, but I just assumed (incorrectly it would seem) that remote investors "hired" someone to go to view the property and give it the once over before an offer was made. As you'll know, there's nothing quite like seeing it in the flesh.

 

I agree though, the cost of the survey is money well spent when investment remotely.

 

Cheers

AB

[Silvio Orlando]

Hi Adrian,

 

Your best bet is really to research the most reputable agents in the area that you're looking in.  Check online, see which agents are quite proactive about BTLs etc.  Then you email them, and probably arrange a call with them too.  Bear in mind agents get dozens of contacts like you, a lot of which don't keep the momentum going.  Stick out from the crowd, once you've identified an agent you like and trust, send them your proof of funds.  Nothing like a bank balance with lots of zeros to show the agent that you are serious and ready!!

[Adrian Britton]

36 minutes ago, Silv said:

Hi Adrian,

 

Your best bet is really to research the most reputable agents in the area that you're looking in.  Check online, see which agents are quite proactive about BTLs etc.  Then you email them, and probably arrange a call with them too.  Bear in mind agents get dozens of contacts like you, a lot of which don't keep the momentum going.  Stick out from the crowd, once you've identified an agent you like and trust, send them your proof of funds.  Nothing like a bank balance with lots of zeros to show the agent that you are serious and ready!!

 

Hi Silv,

 

Thanks for the post. I think you're right.....that (along with the survey in the previous post) is about the best I can expect. My main concern is that many agents will just want you on their books - certainly to start with - so I was always worried that I would engage one for them to say "it's great, go for it" without the right due diligence and checks. The zeros on the statement would only make that worse :-)

 

Over time, once the relationship is there, I think that this would work ok. I just need to find that magical agent now.......

 

I guess that's the price you pay for remote investing :-)

 

AB

 

[Silvio Orlando]

Yep!  It's a two-way street, yes the wrong agent will get dollar symbols in their eyes once they see your account, and yes the wrong alleged investor will waste a good agent's time.  Just a question of marrying up the good guys with each other!