Questions to have answered prior to asking an investor for $$$

2 Replies

Hello BP,

I'm beyond new to this real estate stuff, however I have been presented a pretty great offer! I have the opportunity to have 100% funding towards a multifamily complex (9 units) in my current neighborhood. My take on the property is that I get to live no rent, so long as I manage the place. Over time I plan on buying the owner out. I would like to go to the investor and basically give them a presentation with every last bit of info anyone would need to partake in an invest situation. I am starting to get lost though on what kinds of questions I can expect them to ask as I would like be prepared to have all of the basic/normal data/information available upon meeting with them. thx!

@Nicholas Barr  sounds like the biggest thing your missing in this scenario is experience.  Your becoming a property manager for a 9 unit building, this means you are the person in charge of protecting the investment.   You need to find experience!  Find a local PM and see if you can shadow them.  

@Shawn M. thanks for the suggestion. To be honest, that idea hasn't yet popped up in my head. I've been overwhelmed with so many other questions I really didn't even give the PM thing much thought. I'm confident in my ability to maintain a complex, but thats about it. I'll start seeking additional advice in this area. Thanks a ton!

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