Buying/Selling Rental Properties - Agent/Pm Company
Investors must read...
Too many times now we are seeing eager investors being put into bad deals or not maximizing their return.
Recently we had an investor looking to purchase a rental income property and he used a "Big Name/Advertising Real Estate Agent". Prior to purchase he never got an opinion on the home he wanted to purchase. After purchase he wanted us to manage the property. Upon setting everything up... The HOA did not allow the home to be a rental for two years!
This is one example of the many I have experienced.
Investors buying or selling make sure you have an experienced agent on your side not an agent just looking to close a deal.
Ask your agent or PM these questions..
1) How many buy and hold properties have you worked with?
2) Do you have a trusted partner to give me a rental analysis?
3) If I want to sell my rental property (tenant occupied) are you familiar with how to go about this?
4) Can you get a trusted contractor to give me an estimate on renovations so I can calculate this into the purchase price?
I know there are many more questions to be asked here. Has anyone on BP experienced this first or second hand that can share as well?