Tips for Multi-Family Diligence

[Kevonna Ahmad]

Hey Everyone, 

I'm in the process of purchasing my first multi-family property (4-plex). For those of you with experience in multi-family investing, what questions should I be asking sellers as I evaluate potential deals?

I know it is important to ask to see their rent roll, current leases, current utility accounts/bills. But what else?

Many thanks for your help!

[Bjorn Ahlblad]

It is good to ask questions but more important to get answers without asking questions of the seller or seller's agent.Tax info can be had at the county site, insurance info from ins agent, rent potential from rentometer etc. The most important thing today is to make sure everyone is paying. Do that using estoppel certs-google and search this site. I make offers conditional on inspection of property and paperwork. All the best!