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26 July 2024 | 1 reply
I purchase multifamily all the time and when I walk properties, I always inquire with the tenants to gain an understanding of the property.
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26 July 2024 | 14 replies
I've had NO interest in it, not even to inquire about when it will be furnished.My question is this: Do I take Section 8 or a lower rent for a year or so, and break even (the long term rent I could get would have me break even)?
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25 July 2024 | 14 replies
@Namal BurmanI have CPA referrals in the San Diego area if interested; feel free to send me a message to inquire.
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24 July 2024 | 7 replies
Ask for data on these items.Turnkey providers sell you a property out of their inventory—inquire about the guarantees or warranties that are offered.
24 July 2024 | 6 replies
Feel free to inquire about their staff qualifications if it's a larger organization.2.
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24 July 2024 | 17 replies
It wouldn't be apparent to those viewing your listing so inquirers may be unaware until they actually book and stay in the home.
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22 July 2024 | 13 replies
(Please don't construe any contact info I provide as an "endorsement" or "recommendation.")Regarding the company your inquiring about, I've come across the following links - for whatever their worth (they may or may not be reliable):https://getoutofdebt.org/46215/saen-higgins-switch...https://getoutofdebt.org/36930/are-wealth-without-risk-informercials-an-extension-of-john-beck-tax-lien-systems-challenged-by-ftcIt's unfortunate that there is often an inverse relationship between (a) the amount of marketing an education/guru company does and (b) the actual value of the services provided.The initial sale made by such companies are really part of getting unsuspecting consumers into a sales funnel that leads to selling the consumer an education course for $10,000's.
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22 July 2024 | 12 replies
Another key thing to know is if you don't have an actual agent that doesn't work for the insurance company (for instance if you contact a call/service center), inquiring about a loss even if you don't file a claim or follow through with a claim could impact pricing.
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23 July 2024 | 13 replies
Also, any competent underwriter who sees a property connected to you or your entity is going to inquire about it, whether through tax returns, corelogic, etc.
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21 July 2024 | 12 replies
Ask about the maintenance history.Units: Visit as many individual units as possible to assess their condition and note any necessary repairs or updates.Structural Issues: Be vigilant about signs of water damage, mold, or pests, which could indicate larger problems.Safety Compliance: Verify that the property meets all local safety and building codes, including fire alarms, extinguishers, and emergency exits.Financial and Operational AspectsRent Roll: Request a detailed rent roll to understand current rents, lease terms, and tenant occupancy.Expenses: Get a breakdown of all operating expenses, including utilities, maintenance, insurance, property management fees, and taxes.Income Verification: Ask for historical income statements (preferably 12 months or more) to verify the revenue.Vacancy Rates: Inquire about the historical and current vacancy rates and how they compare to the market average.Tenant Profile: Understand the tenant mix, including residential versus commercial tenants, lease lengths, and tenant turnover rates.Property Management: Find out if the property is currently managed by a professional management company and if you will retain or replace them.Legal and ComplianceZoning Laws: Ensure the property complies with current zoning laws and inquire about any zoning changes that may affect the property.Rent Control: Determine if the property is subject to rent control or other regulations that could impact income.Permits and Licenses: Check that all necessary permits and licenses are up to date.Value-Add PotentialRenovation Opportunities: Identify areas where you could add value through renovations or upgrades.Rent Increases: Assess the potential for increasing rents based on market rates and property improvements.Additional Income: Explore opportunities for additional income streams, such as laundry facilities, parking fees, or storage rentals.Environmental ConsiderationsEnvironmental Hazards: Check for any environmental issues like asbestos, lead paint, or underground storage tanks.Flood Zones: Verify if the property is in a flood zone and the implications for insurance and risk.Questions to Ask the SellerReason for Selling: Understand the seller’s motivation to gauge the urgency and possible negotiation points.Recent Repairs and Improvements: Ask about any recent capital expenditures and future planned repairs.Tenant Relations: Inquire about the relationship with tenants and any ongoing disputes or issues.Due DiligenceProfessional Inspection: Hire a professional inspector to conduct a thorough examination of the property.Appraisal: Obtain an independent appraisal to verify the property’s market value.Legal Review: Have a real estate attorney review all contracts, leases, and legal documents related to the property.By covering these aspects, you’ll be in a stronger position to make an informed decision about your potential investment.