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Updated about 2 years ago on . Most recent reply

User Stats

157
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Gurjot Grewal
  • New to Real Estate
  • Vancouver, British Columbia
86
Votes |
157
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First Ever Property: last 2 days of due diligence

Gurjot Grewal
  • New to Real Estate
  • Vancouver, British Columbia
Posted

I don't know what more info to request the seller while Im still in this period. 

My numbers are. Duplex fully remodelled to studs, all new mechanicals in 2021. 228k purchase, 10k repairs, 1250-1350 rent a side. (1250 is a good number according to property manager but I feel I can get more)

-inspection done 

-Termite inspection (past damage corrected, Not a concern) 

-leases acquired for current tenants 

-Contractors estimate for minor repairs 

I asked for a Schedule E, or past expenses and the seller denied this. Anything else I should request? 

Most Popular Reply

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1,394
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1,179
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Allan Smith
  • Developer
  • Nashville, TN
1,179
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1,394
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Allan Smith
  • Developer
  • Nashville, TN
Replied

I know the feeling of making sure you covered all your bases before it's too late, but if it's any consolation, at some point you just have to pull the trigger and go with whatever happens. If it's a buy and hold, most mistakes can be covered over with time. Even if it's a flip or a short-term move, there's going to be things that come up at some point in the process so just make the best of it and move on to the next one.

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