Searching for my first deal

[Robert Gonzalez]

Hello BP!! after speaking to a local real estate investor agent, we decided to move forward with searching for my first real estate property. My strategy is going to be house hacking. I will be searching for either a duplex or fourplex property that produces cash flow while building equity. I plan on using the equity on the building to fund my second deal. With this in mind, my agent confirmed that we will be visiting 2 listing locations near me. I believe both listings will be fourplexes. What are some things I should keep in mind while checking out the property? What are some questions I could ask the seller or my agent while viewing the property? What are some key aspects I should be look out for in the structure/integrity of the home? I'm open to sharing more info if it means acquiring better advice. Thank you!

[Stevan Stojakovic]

Good move. Starting with a duplex or fourplex is one of the smartest ways to get in.

When you walk the property, think like an investor. Check the rent roll and leases. What tenants actually pay matters more than what the seller says it “should” rent for.

Ask about real expenses. Taxes, insurance, utilities, maintenance.

Look at the big-ticket items. Roof, HVAC, plumbing, foundation. That’s where the real money goes.

Also make sure it’s legally a fourplex and compare rents nearby so you know the upside.

Run the numbers with vacancy and maintenance built in. If it still works, you’re onto something.

If you want, post the numbers here or DM me. I’ll tell you in two minutes if the deal actually makes sense.

All the best, 

Stevan