All Forum Posts by: Sean Shoemake

My wife and I are looking for lenders in the Pascagoula , Ocean springs area. Id love to hear your recommendations if you have some for this area. 

Hey guys!

How many of you do month to month leases, verses one year leases? (Renting)

Can you elaborate, and explain why you favor the one you do? :)

Thanks!!!

@Salvatore Lentini

We found a potential great deal, for our first buy, but are hesitating because we want ALL the info? Proof of current rental income from the tenants, utilities, what he pays for insurance and taxes?

Its not listed, its a private deal.

I can estimate it all from researching and comparing, and it calculates alright that way.... so should we jump?

What I mean is, do we ask for actual recorded proof of the rental amounts and utility costs before making an offer? I may call the electrical company and see if they can tell me the average bill.

What info do you request from the seller BEFORE making an OFFER on a Multifamily Property? (First time buyers)

He's told us: (by word)

- His Asking

- What current tenants are paying

- What he's paying for Garbage Pickup

I've Researched and found:

- Tax History

- Estimated Insurance

- Estimated Worth

- Our estimated loan amount. %, and payments. Etc.

Should we ask for the financial records, utilities, rents from the seller BEFORE making an offer? Or is the plan to quickly make an offer and then ask for these financial records before solidifying the deal?

What else should we ask for?

We've run what we have through the calculator and like the numbers, if everything is true.