Investors focus primarily on potential profit when purchasing single family home investments, resulting in more online purchases without actually viewing the property. This trend will most likely continue to grow with the convenience of online shopping becoming more and more prevalent.
With evolving technology, investors are turning to data to help guide their decisions, making investors themselves more comfortable moving forward with transactions on properties they have not seen in person. Online platforms such as Roofstock, OwnAmerica, and HomeUnion are making online home shopping for investors easier. Roofstock has surpassed $2 billion in transaction volume since 2016.
Are Click-and Buy Strategies the Future?
While online platforms may be the wave of the future, it is important for investors to tread carefully during purchases that are sight unseen. Buyers need to be aware of different laws in different states regarding tenants, foreclosures, and evictions. Many investors are relying on their agents to view the properties and schedule the inspections. Most importantly investors need to be realistic about their expectations, as there is no such thing as a guaranteed investment. Hiring a property management company, such as Ryntal Property Managment, is definitely something to consider when trying to manage investments remotely.