Newbie questions about a Louisiana FSBO 4Plex

[JD Monroe]

My wife found a 4plex FSBO in a college town (where she goes to school) about an hour away from where we live. I tried looking the property up online and found very little info. From google maps and the pic my wife took, there seems to be some differed maintenance i.e. exterior paint and slightly over grown vegetation. I went to the county auditor’s website; I found the assessed value and tax info. I also saw the owners name but, the address was different than the 4plex’s. I then looked up the owners address and it popped up on a FSBO website and some other Real Estate sites.

Question #1 Does this info (the owner’s house for sale) indicate a possible “motivated seller”?

Q. #2 Should I have more info before I call the number on the sign/ if so how can I find it?

Q. #3 When I call, what questions should I ask the owner? I can think of some: Owner financing /NOI /vacancy/Roof and foundation.

Q. #4 Is there any other advice you can give?

[Brie Schmidt]

@JD Monroe

Question #1 Does this info (the owner’s house for sale) indicate a possible “motivated seller”? Possibly. More importantly is finding out the numbers

Q. #2 Should I have more info before I call the number on the sign/ if so how can I find it? No, just call

Q. #3 When I call, what questions should I ask the owner? I can think of some: Owner financing /NOI /vacancy/Roof and foundation. Is it rented? what is it rented at? can you provide copies of the lease? can you provide an income and expense report? What sort of seller assistance could you offer? What repairs have been done on the property recently?

Q. #4 Is there any other advice you can give? Speak with a bank first and make sure you will get approved for financing