What to ask your Realtor about a property?

Question

Greetings BP Family!

I'm looking to finally take my first steps on my first rental property and wanted to know what are the basic questions I should be asking my realtor about a property? It's a 4-plex that is fully rented so I can only go through the pictures. Again this is my first so I'm learning.

Thanks,

Juan

Steve Morris · Answer

1) Get copies of current leases, do NOT take a broker ProForma

2) Get copy of ACTUAL income & expenses

3) Do your own math and have broker send you comp sales to verify pricing

4) Make sure you have an inspection contingency on your offer and hire an inspector that knows what he's doing to determine CapEx stuff.

What to ask your Realtor about a property?

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