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Updated over 7 years ago on . Most recent reply

Account Closed
  • San Jacinto , CA
20
Votes |
54
Posts

Verifying Tenant Occupied Properties

Account Closed
  • San Jacinto , CA
Posted

Hey guys, I'm new to investing. Living in CA, I need to invest out of state due to limited funds. For multi-unit properties for sale, if the seller specifies that the units are rented out/occupied, how can this be verified, as well as the rent amount they claim the units are rented for? 

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300
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168
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Rob Beardsley
  • Rental Property Investor
  • New York, NY
168
Votes |
300
Posts
Rob Beardsley
  • Rental Property Investor
  • New York, NY
Replied

First off, I would request a rent roll and Trailing 12 from the seller. Additionally, many investors request to see the sellers tax forms because that will verify the accuracy of the T12 (unless they are willing to lie to the IRS, then that is a bigger issue). This should be a good start in the process of verifying the financials of an investment.

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