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Updated almost 5 years ago,
Order of operations for multifamily purchase
We have about 15 SFH properties that we've acquired over the years but we've not delved into multifamily. We are looking at a 11 unit apartment complex. I need the rental agreements, etc to run numbers more accurately. We do not currently have a buyers agent.
What is the order of operations? Should I get a buyers agent and then have them contact the seller's agent to get this information? Or not worry about getting a buyers agent?
Then how should I tie up the property while we're running numbers to determine an offer price? From the examples of Letter of Intent I see, it seems that we should identify an offer price in the letter of intent.
Thanks all!!