Out of area deals - Posted by Chris Lewis

Posted by Laure on May 30, 1999 at 07:45:15:

I have owned property out of my area. One was a commercial building, and the other was apartments. I had a Tenant I gave reduced rent to help watch over the place and that worked very well… until she moved. But that lasted over 7 years !! I also owned a commercial building in the same city as the duplex. It was ok, since commercial doesn’t require much from the landlord…but when I did need something done…watch out !! They raped an out of town owner !!

Would I do it again? It was not a pleasant experience being out of control. But I did make a butt load of money on the two deals… YES. I guess I would do it again.

Hope I helped.

Laure :slight_smile:

Out of area deals - Posted by Chris Lewis

Posted by Chris Lewis on May 29, 1999 at 10:26:03:

I am getting a number of people contacting me with properties that are well out of the area I usually deal with. I can obviously pull comps on them and do a theoretical valuation, but I wondered how you manage to assess the condition of the property and the neighborhood in these cases? Similarly, how do you “show” the property to potential buyers/tenants?

Any advice would be welcome.

Chris (VA)