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Updated over 10 years ago on . Most recent reply
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Buying a 4 plex
Yesterday I looked at a 4 plex (first time looking at a 4 plex ever!), which currently has all units rented out. The property is in overall good shape. It has a new roof which was put on a few months ago, a brick exterior. And the windows seem to be in decent shape. Because of occupancy I was only able to see one of the units. I liked the unit we did see, but I'm worried about putting in an offer before I can see the rest of the units. Is this common practice?? Should I insist on seeing all of the units before I put in an offer?
I'm used to buying SFRs which need some fixing up, so I'm just thinking that they allowed us to see the best unit. I would hate to buy it and have to immediately stick money in, without my knowledge of anything being wrong. Any advice??
Most Popular Reply
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Under inspection require to see all the units. If the seller balks or makes up BS they are hiding something plain and simple.
Walk if they do not allow you to do due diligence or reduce your offer really low. Explain to the seller if you cannot verify condition and numbers then you have to assume the worst to be safe. If they start saying BS give them your card and say when they are willing to share the information give you a call.
- Joel Owens
- Podcast Guest on Show #47
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