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Do you get inquiries from investors out of state?
Double
Asked By Gigi Hale | 15 views | Investing | Updated 1 day ago
Answers (3)
Stacy Corrigan
Peace of Mind Prop Mgmt & Real Estate, Inc.
Sometimes, but there is a huge uptick in scams these days so I verify identity and property ownership if someone is looking to sell to protect myself against scams. What is your particular concern Gigi? Warmly Stacy Corrigan Real Estate Broker RI, Southeastern MA, Northeastern CT
- 22 hours ago
Helpful (1)
Unhelpful (0)
Sheila Foster
Coldwell Banker Apex Realtors
Yes, I do. I am working with several out of state investors here in Texas. Typically, my investor clients come from referrals, and calls on my listings.
- 20 hours ago
- Helpful (1)
- Unhelpful (0)
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Tracy Shand
Jack Conway Company Inc
Hi Gigi, if you receive an inquiry from an out-of-state investor to purchase your duplex, the goal is to quickly verify the investor, understand their investment criteria, before showing them your property. To handle inquiries from an out-of-state investor, first verify the investor’s identity and financial capability, then clarify their investment criteria.
Step 1: Qualify the Investor
Start with a short discovery conversation to confirm their seriousness and investment goals.
Important questions to include and to answer:
Are they buying cash or financing?
What price range are they targeting?
Are they looking for long-term rentals, short-term rentals, or flips?
Have they purchased investment property before?
Serious investors can usually answer these questions quickly.
Step 2: Request Proof of Funds or Pre-Approval
Before spending time on a potential scammer, request documentation such as:
Proof of funds for cash buyers
Mortgage pre-approval for financed purchases
This step confirms the investor can actually complete a transaction.
Step 3: Clarify Investment Criteria
Out-of-state investors often have very specific goals.
Clarify details like: Property type (single-family, multifamily, condo); target their proposed return or cash flow and their renovation tolerance. This helps wasting time with them if your property does not match their strategy.
Common Red Flags to Watch For/Identify Scammers: Be cautious if an investor:
Refuses to provide proof of funds. Sends vague or generic requests and won't communicate in-person on phone calls. Avoids answering basic questions about their goals. Pushes for unusual payment structures. Serious investors are usually transparent and organized.
Hope this helps you!
Step 1: Qualify the Investor
Start with a short discovery conversation to confirm their seriousness and investment goals.
Important questions to include and to answer:
Are they buying cash or financing?
What price range are they targeting?
Are they looking for long-term rentals, short-term rentals, or flips?
Have they purchased investment property before?
Serious investors can usually answer these questions quickly.
Step 2: Request Proof of Funds or Pre-Approval
Before spending time on a potential scammer, request documentation such as:
Proof of funds for cash buyers
Mortgage pre-approval for financed purchases
This step confirms the investor can actually complete a transaction.
Step 3: Clarify Investment Criteria
Out-of-state investors often have very specific goals.
Clarify details like: Property type (single-family, multifamily, condo); target their proposed return or cash flow and their renovation tolerance. This helps wasting time with them if your property does not match their strategy.
Common Red Flags to Watch For/Identify Scammers: Be cautious if an investor:
Refuses to provide proof of funds. Sends vague or generic requests and won't communicate in-person on phone calls. Avoids answering basic questions about their goals. Pushes for unusual payment structures. Serious investors are usually transparent and organized.
Hope this helps you!
- 29 minutes ago
- Helpful (0)
- Unhelpful (0)
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