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Updated over 5 years ago,

User Stats

12
Posts
6
Votes
Brandon Payne
  • Indianapolis, IN
6
Votes |
12
Posts

Due diligence -- tenant occupied fourplex

Brandon Payne
  • Indianapolis, IN
Posted

I am searching for a 2-4 unit to move into as my first purchase. I found a fourplex for sale that is currently tenant occupied. So far I've only looked at vacant properties.

How does buying a tenant occupied residence change my due diligence activities? 

Should I ask the owner for copies of the leases of the current tenants?

They listed a yearly GOI and expenses, but I'd like to know how they calculated that and should ask.

What information would you want when buying a tenant occupied building? Do you have any other pointers about how a tenant occupied purchase would change the normal flow of buying a property?

And it seems odd to say "normal" as I haven't bought a property yet. 

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