Looking at my first potential rental property!

Member since 2025 · 7 posts · 4 votes

Hi all! Tomorrow I am going to be touring a multifamily house! I am just starting out but want to look at as many properties as I can do I can learn what a good deal is! Any recommendations as to what questions I should ask the realtor? Thank you!!

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Drago Stanimirovic

Real Estate Coach · Miami, FL · Member since 2024 · 1k+ posts · 484 votes

Nice work, James house hacking is a smart first step.

Ask the realtor about current rents, lease terms, expenses (taxes, insurance, maintenance), any major repairs needed, and if all units are legally permitted. Also, check rental comps to see if there’s room to raise rents.

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Erik EstradaBusiness Member
Lender · Member since 2022 · 6k+ posts · 1k+ votes
1y
Have you secured financing yet? I would start there and then contact a realtor
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Drago Stanimirovic
Real Estate Coach · Miami, FL · Member since 2024 · 1k+ posts · 484 votes
1y
Nice work, James house hacking is a smart first step.

Ask the realtor about current rents, lease terms, expenses (taxes, insurance, maintenance), any major repairs needed, and if all units are legally permitted. Also, check rental comps to see if there’s room to raise rents.
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Josh SedivyBusiness Member
St. Louis, MO · Member since 2024 · 134 posts · 55 votes
1y
Congrats on taking this step! Touring as many properties as possible is exactly the right mindset early on.
Start by learning the numbers: Ask for the rent roll, expenses, and if any units need repairs. Check for big-ticket items like roof, HVAC, and plumbing. Find out if the tenants are on leases or month-to-month. Ask about vacancies and if rents are below market.

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Twannisha Jackson
Rental Property Investor · Cleves · Member since 2023 · 132 posts · 82 votes
1y
•have you ever worked with an investor?

•do you own any rental properties?

•how long have you been a realtor?

•do you have any investor references?

•If all fails, they’re main job is to house hunt whatever ur criteria is so just be on ur toes, don’t trust whatever “speculation” they have, use ur investor brain. don’t be afraid to say NO, because they can pressure you.

*10 showings or two weeks (whichever comes first) move on to another realtor or realtor company.

you got this.

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Kerlous TadresBusiness Member
Realtor · Columbus, OH · Member since 2023 · 1k+ posts · 1k+ votes
1y
Hey James! It’s great that you’re out there touring properties and learning. I’d recommend asking about the property's overall condition, especially the roof, plumbing, and electrical those can be big-ticket repairs if something’s off. Make sure to ask about the current rent for each unit, any vacancies, and how long the property’s been on the market. Another important thing is to ask about the operating expenses taxes, insurance, utilities, and maintenance so you can get a sense of the ongoing costs. Lastly, ask the seller how long they’ve owned the property and if they’ve had any tenant turnover issues.
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Joseph TadresPro Member
Real Estate Agent · Columbus, OH · Member since 2025 · 184 posts · 179 votes
1y
I would recommend asking about the rental history, current cash flow, and monthly expenses like utilities and maintenance. From my experience, inquire about the condition of major systems (roof, plumbing, electrical) and any necessary repairs. This will help you better assess the deal.
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