Updated almost 8 years ago on . Most recent reply
First Time RE Investor - Seeking Guidance
Hello BP Members,
I am looking at buying an investment property, as you may have guessed. I am looking into multi-unit rentals because I feel they have better returns, in general. First off, is that even true?
I have stumbled across a listing for a 7-unit (1 studio, 6 1/1s, across 3 buildings) property in my area. It was built in 1930 and sits between commercial complexes on 3 sides, 4th side is open to a local highway. I am intrigued by it on face value but I don't know how to move forward with even finding the needed information. The listing agent will not release any financial info without a contract. It is also owned currently by a company that is involved with real estate. I always wonder why a person/company that invests in property would sell a successful property...
So what I'm looking for is:
What information do I need to find out to see if I want to move forward with a contract?
If I do want to move forward, how should I structure a contract to provide me maximum contingency options and protections?
Thanks everyone!