Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
Results (10,000+)
Kyler B. AI Finds 1,000s of Physically Distressed Homes
20 July 2024 | 13 replies
You are looking for motivated sellers.
Chuck B. Has anyone taken Phillip Vincent's program - Mom's House?
24 July 2024 | 46 replies
Stands to reason their motivation to sell with minimal hassle is high at that point in time.
Sunghee Shin Section 8 Investment in Detroit Michigan
22 July 2024 | 38 replies
Anyone that tells you different is either completely inexperienced or has ulterior motives.
Ryan Nelson buyers agent wants a commission for bringing in buyer?
22 July 2024 | 13 replies
If you have 4 offers sitting there, I would really start looking at them and weigh that with your motivation for selling. 
Jorge Garcia Beach vacation rental
21 July 2024 | 18 replies
Throw in low offers and some people will be motivated to sell due to life circumstances.
Karolina Powell Questions to ask when touring a multi family
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.
LUIS M SANCHEZ Dustin Hans course
20 July 2024 | 12 replies
He motivated me to get going in tax liens.
Tony Zhang What's the penalty for using VA or FHA loan for non primary residence?
20 July 2024 | 8 replies
It's very risky having an alteria motive when going through these processes.
Lou Croce Motivated Seller Leads?
15 July 2024 | 33 replies
Has anyone had any success with buying motivated seller leads or buying into a website that produces them for you?
Daniel Taylor Seeking Advice on Structuring a BRRRR Deal for a Foreclosed Property
19 July 2024 | 4 replies
From the lenders point of view, they want to see that you have "skin in the game" that way if you do run into any complications, you'd be more motivated to address them as you are invested financially in the project yourself.Regarding the tenants, I'm a bit less experienced in that regard.