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Updated over 2 years ago, 04/06/2022
Just received an accepted offer on multiunit
Just received an accepted offer 10 minutes ago on an 8 unit property. They were refusing to allow an inspection so I ended up waving it after talking to an experienced real estate investor based on his suggestion. Four units are currently rented out the other four are in various States from completely gutted to needing to be gutted to very long time since it's been renovated.
I have 5 days to pay the ernest my realtor juat told me, which is no problem. What are the big questions I should be asking and getting set up and aligned for when this property becomes officially ours?
Can someone give me a checklist of most important improvements to a unit to make it rentable?
I also imagine I'm going to need to reach out to the current tenants and inform them where to send their money and how excited I am to take over the property and give them new lease agreements? Or am I going to have to accept them as my current renters until their current lease expires?
Just need to get focused here and I kind of want to checklist to go off of for my situation so I can better focus my time and create systems.
Any and all advice welcome references that you could link me to would be much appreciated.
Don't let me down bigger pockets!
Lee