Contractor · Eatonton, GA · Member since 2014 · 14 posts · 2 votes
I am about to meet the real estate agent and a owner of a 4 unit property for sale. This is the first time I have ever acted on potentially purchasing a multi-family and want to ask for all the correct documents to be able to perform an accurate analysis of the financials and rental property as a whole.
What should I ask for tonight?
I am already thinking I should ask for:
1. Current Leases or 1 year rent receipts to date (to verify rent history) 2. What financial docs should I ask for? 3. Should I ask for an Estoppel certificate at this time or would that be later if I make an offer?
Investor · Dallas, TX · Member since 2014 · 47 posts · 4 votes
11y
Well you don't really need to ask for anything the first time you see the property. What if its total crap and not worth it.
After you look at it and your interested I've used the methods on these blog posts. They have been very helpful.
The one thing I have had issues with is asking for tax returns from sellers. They seem to be very put off by this. Maybe because they are doing something shady but if you do get a tax return remember it is in their best interest to minimize income and maximize espenses when they report to the government, so the actual tax information may be lower than you expected.