Questions to ask your realtor?

[Elizabeth Gomez]

Hi all

Newbie here! My realtor is constantly sending me deals and I have analyzed a bunch. I have found one that peaked my interest with good cash flow and ROI ratio but before i make the offer i wanted to ask the important questions. i have asked so far the below but wondering what am i missing. can you help?

- last time roof, heater and ac units were updated

- insurance cost

-neighborhood vacancy rate

[Michael Robbins]

If the home is located in an HOA I would verify the HOA fees and their financial health. For example, you close on the deal and the HOA fees go from $200 to $300 a month because they need to increase their reserves. Another example is the HOA needing to do roadwork and everyone gets a special assessment of $175 a month for six months. It is important to go over the hoa resale package carefully.

I would also look into any construction defects.  You might start by asking your Realtor to pull the building permit history of the property.