Multifamily home contract question

[Account Closed]

I'm looking at a multi family home with 6 units, it's not on the market but the owner will sell. I'm hoping I can take knowledge form some of the books I've aquired and bounce things off of the bigger pockets forums to get me through this process.  I'm currently reading the book on rental property investing from the bigger pockets hosts and am getting a ton of great great info from this book. My question, is in regards to finding someone who can produce a contract. Who will have my best interest's in mind? What is the best way and by whom to produce a contract that includes all the compex factors that come in to play when attempting to purchase a 6 unit complex that is currently fully rented? Should I seek advice from a real estate agent, a real estate attorney, a commercial real estate agent, or someone else?

Thanks 

[William Hochstedler]

If the property is in Colorado, your Division of Real Estate is especially kind when it comes to forms.  There's a Google Drive link on their website with everything you need.  There is a commercial purchase contract there.

As this is a 6 unit building you will not be able to use conventional financing.  You will have to pay cash, use commercial lender, or consider seller financing.  So I'd start talking to local commercial lenders and see what kind of feedback you're getting.

Both attorneys and real estate agents, once engaged, are required to put your interest before theirs as they are bound as fiduciaries.  If you are serious about real estate investing, you should have both of these on your team.  But you need to find the right ones who will justify their cost.

From your post, it's hard to tell your level of experience.  There are folks who are new to real estate but have deep business relationships in the community to people who have never purchased a property.  Where are you on that spectrum?  

Nor have you provided any information on the deal.  Without a little more context, it's hard to provide useful recommendations.

Welcome to BP!