All Forum Posts by: Venkatesh Katari

@Theresa Harris

I'll ask all the info from the seller in writing or existing official documents. I initially thought of talking with tenants to know about if there is anything is wrong with the property (I won't rely on it if they say everything is awesome, but if they point some potential pitfalls , I thought I could enquire about them with seller and make sure they addresses them in legal documentation)

@Marcus Auerbach

Thanks for the advice, I'll just then rely upon my agent and inspections person and existing documentation to make a safe decision! :)

Hi BP! I am exploring the option of buying a 4plex. It will be an OOS investment and I am flying into the area next week. This is my first REI ever and I'll be going through traditional financing route (bank/lender with 20% down) I want to make sure I get all the information necessary before I put in an offer. I went through BP post and found a checklist https://theresabradleybanta.com/wp-content/uploads/2014/03/Checklist-Before-You-Offer.pdf

Parallelly  I want to approach existing tenants and want to ask about issues with the property like 

- existing repairs  

- recent inspections 

- soundproofing

- any issues with HVAC, electricity, and plumbing 

- also about an existing landlord 

- their current rent and lease agreements. ( just for a reference as I'll be requesting Schedule E or 1065 form from the existing owner)  

Since I'll be knocking on their doors and asking them, I might be shunned away or not welcomed, so I was wondering if there any tips you all can share which would help me approach the tenants 

Would offering them a chipotle or subway gift card for 15 mins of their time, a good idea?? 

Hi everyone! I am new to BP forum. I want to start my journey on REI. I had been reading books by Bradon and David and had been listening to the amazing BP podcasts. I live in the bay area and cannot afford a rental property here. OOS seems to be my option now. Since it's my first investment, I am skeptical about taking the leap and buying in areas/cities which are totally unfamiliar to me. I shorted listed some cities/areas(Seattle, Austin, Dallas, Portland, Phoenix) where I have personal contacts, however, in these places, the cash on cash return is very low (2%-4%). So I was wondering what metrics and their respective values do you look into (say coc % greater than 10%, yoy increase% greater than 6% etc) to conclude that a certain property is a good rental property for long term holding.

Thank You