Just Closed On First Multifamily Property....... NOW WHAT?

[Joseph Pochinskas]

Hi All, 

I just closed on my first 4 flat. I have three tenants currently. I have meetings with all of them next week to go over payment schedule and any changes. But in terms of owning the house, what now? 

How do I put the utilities into my name? 

How do I put the garbage clean up in my name? 

What Next? What are my need to have done before first mortgage payment is due? 

Thank You!

[Filipe Pereira]

Holy smokes @Joseph Pochinskas - I feel for you, man. 

Did you use a real estate agent in this transaction? If so, they should have coordinated with the listing agent to be able to get you the information as to who Services the property for utilities, and therefore who you should call to have those utilities transferred to your name.

As a matter of fact, in Connecticut the water bill needs to be transferred before the property closes. Try reaching out to your agent and see if something similar exist in your state.

Other than that, start researching for a quality plumbing contact, a general handyman, and an electrician. Those three areas will cover 95% of the maintenance related issues that you need to respond to.