Best Questions to Ask Seasoned Investors?

Question

Hey BP fam,

I'm a rookie and I formulated a list of experienced investors in my local area I'm going to connect with throughout the next few months.

The point of this is to gain knowledge about the industry, my market, and learn some good pointers in general.

My goal is house-hack a multifamily, 2-4 units in range. This is the first deal.

What are some good questions/topics I should ask them to help benefit myself?

Any comments please leave them,

Thanks

Aidan

Samuel Black · Answer

Hi, also a rookie here! Also looking to start with a 2-4 door househack!

I've connected with a couple investors and here's some questions I asked them.

-What unexpected issues did you run into after you bought your properties?

- How did you find contractors? What do you look for in a good contractor?

- How did you determine appropriate rent? How do you raise the rent price if it currently under market?

- Hypothetically, if someone like me came to you needing a partner, what would you want to see in a potential young business partner?

- How much time do you need to dedicate to one of your properties? How do you manage that time?

- And then I have asked deeper questions based on topics they talk about

Hope this helps! Looking forward to more advice for myself too.

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