Ok - give it to me straight - new acquisition

Ok - give it to me straight - new acquisition

Rental Property Investor · Seattle, WA · Member since 2017 · 383 posts · 248 votes

I am under contract on an 11-plex in a C market. I've been in SMF for the last 5 years in a nearby market and studying this location for the last 2. And I've finally made the jump to a, "bigger building" I'm feeling good about the price, the location, the documents I'm getting from the seller. And I am walking it with the inspector and my GC Monday. So give it to me straight: if you could do your first Multi-family deal over again, what would you do differently?

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  • Flipper/Rehabber · Phoenix Arizona · Member since 2020 · 1k+ posts · 686 votes
    2y

    Christen congrats on tying down 11 doors. 

    How many deals have you done?

    It's scary but if building is solid .

    How old us building?

    Type of roof?

    Plumbing?

    How old is electrical?

    Boxes of electrical?

    Is it vacant?

    if so does the city require updating?

    Permits required by city?

    If occupied..

    Etc 

  • Investor · Miami, FL · Member since 2015 · 355 posts · 268 votes
    2y

    If I could do it all over again, I would invent a time machine, go back to the age of 21 and start buying buildings then.

  • Bjorn AhlbladPro Member
    Investor · Shelton, WA · Member since 2017 · 6k+ posts · 6k+ votes
    2y

    Good job Christen. You have guts and you don't hem and haw! You know what you want and what it takes! All the best!

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