What questions should I ask realtor re: investment property?

2 Replies

I'm new to the real estate investment world, but am planning to start with purchasing a multi unit property. This has been a task trying to find listed ones in platforms like Zillow, Trulia, etc. Last night I found a newly listed duplex in my area for $207k. Both units are currently rented out and it looks to be in great condition.

I have an appointment to speak with the realtor this afternoon and am wondering what are some important questions to ask and things to look out for?? Please offer any advice that think may be helpful :-)

Originally posted by @Kandice Manciel :

I’m new to the real estate investment world, but am planning to start with purchasing a multi unit property. This has been a task trying to find listed ones in platforms like Zillow, Trulia, etc. Last night I found a newly listed duplex in my area for $207k. Both units are currently rented out and it looks to be in great condition.

I have an appointment to speak with the realtor this afternoon and am wondering what are some important questions to ask and things to look out for?? Please offer any advice that think may be helpful :-)

It sounds as though you need an education on the fundamentals. It's too late for your meeting this afternoon but I would recommend a book like "Long Distance Real Estate Investing" by David Greene. He gives great advice for finding a REALTOR, contractors, property managers, and lenders.

You should definitely ask what their experience is with investment property. If they don't own investment property or work with investors regularly, you may want to keep looking. It's best to have someone experienced in that area so they can cross-check your numbers or watch out for other red flags that a non-investor would never think about.