Can’t Get Out to Property Shop, Check Out Some Realistic Pictures of Properties We Viewed

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We recently spent a Saturday afternoon viewing property in Pennsylvania.  Although we live and invest in Virginia currently, we have been looking to diversity our portfolio and invest in the area where I grew up.  Since we are usually back visiting family once a month, having a rental property there would work for us since we visit so frequently.

Anyway, we spent the day driving around the town and viewing single family homes, duplexes and student rentals.  Since the town is a college town, and we both have connections to the university as we both attended and played sports there, one of the things that we have been aiming for is to purchase a student rental.  Either way, we saw some good things and some pretty scary things on our day of property shopping.

Shopping Can Be Invaluable

As a rookie investor, I think one the invaluable things that you need to gain is experience with property.  We have spent many days property shopping to come away with nothing tangible, but a wealth of knowledge.  Each time we look at property we learn a little more about what to look for and what to stay away from, where our limits are and what challenges we are willing to tackle.  You can't put a dollar value on this.

Once you start to get familiar with all of these things, you'll be able to walk into a property and after a quick look know whether it's something you want to pursue further or not.  So although, some days we walk away making no offers, we were able to take away new insight into investing.

So what am I saying, get out and shop!  Look around and start to get your feet wet with what properties are out there in your area, price range, and goals. At the same time, I know how hard it can be to just take an afternoon or a day to spend looking knowing you probably won't make an offer.  Kids have practice, you have work, or you're exhausted from the week and just want to relax.

Our Recent Property Shopping Day

This is why I decided to document our shopping that day and share with you some of the photos and videos we took.  If you can't get out and look at properties to grow your insight at least take a look at our pictures and maybe that will help you decide what things you may want to go for or what things you absolutely will stay away from!

You'll notice that there are captions under the pictures that reflect our thoughts on updates and/or fixes.

So What Did We Do?

After shopping that day we decided that we didn't want to make an offer on any of these properties.  Although we want to get a student rental or a duplex in this area, the ones we looked at just didn't fit our goals as investors.  We aren't afraid of doing work and doing some renovations; however, when we invest we want to purchase and rent something that we would live in ourselves.  Because these were out of the area and needed a ton of renovation to meet our own personal investing ethics, we decided not to purchase any.  But we are still on the hunt for property in this area!

 

 

 

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