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Updated about 8 years ago,

Account Closed
  • Project Management
  • League City, TX
44
Votes |
99
Posts

4 Unit Vacation Property - What do I need to know?

Account Closed
  • Project Management
  • League City, TX
Posted

I've found a 4-unit vacation property for sale one town over from me in a touristy spot. I want to pick up some short-term rental properties and this one fits my criteria pretty well. 

What do I need to know from the owner to ensure this is a good deal?

Here's what I'm currently asking for:

  1. P&L sheet
  2. Rental rates
  3. Vacancy rates
  4. Expenses (especially insurance as this property is blocks from Galveston Bay)
  5. Current marketing efforts
  6. Current property management
  7. Known repairs needed
  8. Furnishings included if any
  9. Any special local taxes

What am I missing? 

Thanks in advance. 

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