Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 6 years ago,

User Stats

5
Posts
1
Votes
Praxitelis Madimenos
  • Brooklyn, NY
1
Votes |
5
Posts

Due diligence for purchasing a property

Praxitelis Madimenos
  • Brooklyn, NY
Posted

Hello,

I am still new to real estate investing and I have been learning from my mistakes.

I did come across one issue and was hoping I could get the input of the seasoned investors with regards to doing my due diligence.

So, for any potential purchase, I always make sure to ask my broker whether the tenants or the landlord pay the utilities. For this last property, I was told that the tenants pay the utilities. In fact, the ledger that seller's property management company provided didn't show any utility expenses and the tenant leases said that the utilities were the responsibility of the tenants. 

The day after we close, I get a call from my property manager saying that the water has been cut off. After reaching out to the seller's property manager we find out that the landlord pays DOES pay the utilities.

What else could I have done to protect myself and is there anything anyone could share that might be helpful?

Thank you!

Loading replies...