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Updated over 7 years ago on . Most recent reply

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87
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25
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John Sherron
  • Houston, TX
25
Votes |
87
Posts

Due Diligence on out of state multifamily properties

John Sherron
  • Houston, TX
Posted
Hey BP fam! I looking to start investing in multifamily properties and wanted to whats a good due diligence checklist to follow when analyzing the deals? If you have any good spreadsheets to share I would really appreciate it. Also, when buying out of state what is the best way to go about it? I am a truck driver so im gone over the road quite a bit. Thanks in advance!

Most Popular Reply

User Stats

450
Posts
270
Votes
Chris Eaker
  • Buy and Hold Investor
  • Knoxville, TN
270
Votes |
450
Posts
Chris Eaker
  • Buy and Hold Investor
  • Knoxville, TN
Replied

@John Sherron, property management companies will help you a ton if you're planning on hiring them. I have a 152-unit under contract in GA and I live in TN. I've been in discussions with 3 property management companies to conduct due diligence for me. I will decide which one to go with and then let them go. They'll conduct lease audits, contract reviews, physical inspections, resident interviews, etc., and send me back a report. They charge a fee per door, but if you hire them to manage the property, they waive it. 

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