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Updated about 3 years ago,

User Stats

24
Posts
12
Votes
Kari Morales
  • Rental Property Investor
  • San Diego, CA
12
Votes |
24
Posts

Questions for seller of a multi family property

Kari Morales
  • Rental Property Investor
  • San Diego, CA
Posted

I am looking at a purchasing a 4 plex in a rural area and was wondering what questions I should be asking the seller.

I have already asked about utilities, for example, owner pays trash, water, septic, propane, and landscaping, while tenants pay their own electricity.

My agent told me that all 4 units are currently rented, one being month to month.

I am concerned that this being a rural property in the Midwest, that it would be difficult to fill when vacancies arise. Is there a way to find out from the seller previous occupancy rates and where the tenants are employed? I have always stuck to larger metropolitan areas where information is more transparent and this would be my first multi family purchase. Any advice would be appreciated. Thanks.

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