Touring potential rental properties; what should I look for?

[Bjorn Nielsen]

I’m going to tour several potential rental properties tomorrow (will be my first purchase). One is 25 years old, the rest are >100 years old, but their rental calculator numbers are much better. What should I be looking for when I visit the property to decide which ones I should offer on and which ones I shouldn’t?

[Moises R Cosme]

1. Are the utilities split?  2. How old is the HVAC?   3. How old is the roof?  4. What are the rent rolls for the last year? 5. How many evictions over the last year?  

Each we assess a rental property we are looking to figure out how much we will have to invest in CapEx and how quickly. Once we have a grip on our CapEx numbers, then we want to figure out what our income is likely to look like. The evictions question is important because it will give you a simple answer as to the type of tenants that you can reasonably expect to get in that neighborhood. Message me if you think I can answer more questions. I hope this helps!!!