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Updated almost 3 years ago,
What Questions Should I Be Asking the Realtor?
Hello! I've never purchased a home and have identified a few homes for sale in a market that I would like to start building a rental portfolio in. When I tour the properties/work with the realtor, what questions should I be asking to confirm that it's a deal worth going for? I've already looked at rents in the area for similar properties via Zillow, etc.. to determine a realistic revenue stream. I would imagine confirming the last time repairs were done to the roof, last time a new water heater was installed, if it's tenant occupied, what they're paying currently...
So far all I know is that the cap rate and COC return is favorable based on my rudimentary estimates, but I want to know what else it comes down to.
So, what questions should I be asking these realtors regarding rental properties?
Any insight is greatly appreciated!