Hi! My husband and I are pretty new to real estate. Over the past 2 years we've acquired 10 units, most of which are single family or small multi family. We've recently been talking with an older gentleman who wants to sell us his 20+ unit apartment complex. The owner has been very upfront and honest with us regarding all the property information he has, to the point where he is asking us what we would like to see... We honestly don't know where to begin. We are thinking P&Ls, Rent rolls, but what else would you want to see before negotiating the deal?
Read the book "what Every Real Estate Investor Needs to Know About Cash Flow" it'll help you out.
But essentially it's all about verifying the P&L. If your cash flow is accurate then offer based on current rents and your desired return.
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