How to Prepare for Your Rental Property Closing Like a Rock Star

How to Prepare for Your Rental Property Closing Like a Rock Star

1 min read
Matt Faircloth

Matt Faircloth, co-founder and president of the DeRosa Group, is a seasoned real estate investor. The DeRosa Group, based in historic Trenton, N.J., is a developer and owner of commercial and residential property with a mission to “transform lives through real estate.” DeRosa creates partnerships to finance select real estate investments and has a proven track record of providing safe, profitable investment opportunities to their clients.

Experience
Matt, along with his wife Liz, started investing in real estate in 2004 with the purchase of a duplex outside of Philadelphia with a $30,000 private loan. They founded DeRosa Group in 2005 and have since grown the company to hundreds of units in residential and commercial assets throughout the East Coast. Under Matt’s leadership, DeRosa has completed tens of millions in real estate transactions involving private capital, including fix and flips, single family home rentals, mixed-use buildings, apartment buildings, and office buildings.

Matt is an active contributor to the BiggerPockets Blog and has been featured on the BiggerPockets Podcast three times (show #88, #203, and #289). He also regularly contributes to BiggerPockets’ Facebook Live sessions and teaches free educational webinars for the BiggerPockets Community.

Matt authored the Amazon Best Seller Raising Private Capital: Building Your Real Estate Empire Using Other People’s Money. The book is a comprehensive roadmap for investors looking to inject more private capital into their real estate investing business and is a must-read for anyone looking to grow their business by using private lenders and equity investors. Kirkus, the No. 1 trade review publication for books, had this to say about Raising Private Capital: “In this impressively accessible introduction to a complex subject, Faircloth covers every aspect of private funding, presuming little knowledge on the part of the reader.”

Matt and his wife Liz live in New Hope, Penn., with their two children.

Education
Matt earned a B.S. in Industrial and Systems Engineering with a minor in Business from Virginia Tech. (Go, Hokies!)

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DeRosa Group’s YouTube channel
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Real estate investors do NOT talk enough about what needs to happen to be fully prepared for closings on rental properties (on the purchasing side). Some closings go smoothly; others can be disastrous.

The more prepared and organized you are, the better closings will go. (Added bonus: you’ll avoid running around like a crazy person the day of!)

Getting Ready to Close? Watch This.

In today’s video, I discuss how to prepare to buy a rental property. Be sure to sort out the following prior to closing:

  • Title and Legal
  • Tenants
  • Loans
  • Insurance

As always, let’s get some discussion going!

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What did I miss? What do you think is imperative to include in a “preparation list” for buying a rental property?

Thanks for watching and commenting!

Real estate investors do NOT talk enough about what needs to happen to be fully prepared for closings on rental properties (on the purchasing side). Some go smoothly; others can be disastrous. The more prepared and organized you are, the better it will go. Here's what to sort out to prior to the big day!