All Forum Posts by: Vessi Kapoulian

As far as validating the rental revenue, there are a few things to consider: ideally the estoppels would be notarized; confirm the lease agreement information matches the rent roll, p&l, and bank statements (bank statement would show you how much they are actually collecting); request copies of the executed lease amendments or other written or side agreements the owner may have had with the tenant(s). 

Inconsistent information and documentation and the owner(s) stalling responses or being inconsistent in their responses would be a reason to walk away in my view.

Whichever route you decide to take, I recommend not tying up your entire capital and reserves. Unexpected things happen and you do not want to end up passing on or walking away from a good deal due to lack thereof. 

Agree with both comments above. I am at the beginning of my MF journey and found all books listed above helpful. Who Not How is on my list. I have read the other three - they are all helpful in terms of providing actionable how to steps to get started. It is also good to see consistency of the message across them. I also recommend How To Create Lifetime Cashflow Through MF Properties by Rod Khleif (it has a 90-day action plan) and Honeybee by Jake and Gino (the 10x concept presented in a more philosophical story telling format). I have several more books on my list, which I keep adding to :). I think reading/education is ongoing key component of the RE growth journey (or any journey for that matter :) ). 

There are several (some also have demographics data) - spotcrime.com, city-data.com, bestplaces.net, Google maps (street view option), and nsopw.gov.

@Alberto Nikodimov

@Alberto Nikodimov

Which third party service providers do you recommend for performing a full background check on potential deal partners?

@Javaras Thomas, You are very welcome! I am glad the info was helpful.

https://www.iwantmultifamily.c...

Re areas to consider, I also recommend to check out the Crestcore Real Estate Hour podcast. Periodically they share helpful info by zip code as well as Memphis specific topics. The information shared there (re zip codes) as well as on the various BP threads (that you can search under Memphis zip codes) has been consistent with my experience investing in Memphis.