RTO question

[llee]

Hi,

I am planning to use RTO as my vehicle for my next purchase (likely through some RTO service agents).

I understand that most maintenance work is to be done by the tenants-buyers. But do investors feel comfortable for RTO properties that are outside their own town/city/province? One of my rental units in my own town caught a fire last week, and I had to spend a significant amount of time on site to be with insurance adjusters, renovation folks, etc. If the RTO property is outside my town/city/province and it`s caught on fire (or major work is needed), it will still be very time consuming.

If any of you have invested in RTO and have out of town/city/province properties, could you please share your experience?

Thanks.

 

[housingrental]

For something like that I`d tap into your realtor - and offer them some extra $$$$ - to help you out. Or to reference you to a property manager that will charge you on a short term per site visit fee structure

 

[markl]

As per Adam we get a local property manager to go in with an inspection check list to ensure everything is in order.

You would want to do this at least every 6 months to ensure all smoke detectors are in place and everything is being kept up.

 

[JoeRagona]

Darn,

Mark was quicker on the trigger...ditto for me!

 

[llee]

Thanks for all replies.

Mark - would you say more than 50% of your RTO investors invest properties outside of their cities/province?

Thanks?