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Updated almost 9 years ago,
closing on property fourplex and transitioning ownership
I've got my first couple of purchases nearing the real estate closing date. I'm wondering if someone has a checklist for closing and making the transition in ownership for a new multi-family property owner. The properties are a couple hundred miles away. One will have a contracted realtor/ property manager, the other will have a maintenance guy (the former owner) available to me, but I will be the property manager. So, I have a repair scheme in place.
I acquired a google voice phone number local to the area code. I'll skip the PO box for rents, as I don't want to spend extra to start. I'm hoping tenants at the place where I PM for will get on board with making an ACH deposit to an account number at my bank.
Not owning the places yet, I don't know that I can give folks notice that I want to come through and assemble my list of todos, and make plans for what I want to change.
I'd love any checklists, or detailed advice on how to make "take over" and make the transition of ownership for my new properties!
Thanks!
Gary