All Forum Posts by: NA NA

-the very basics, that im sure u know allready: price, general condition of structure, property size.
-price: repairs needed? cost of such repairs? ARV? ARV will require some work to find comps in that area.
-rent price: this is where comparibles come in handy for the area
-margin: rent minus monthly costs. Make sure this will be enough to afford that new A/C unit next summer ;) (my luck, the AC would go out in the winter, go figure.lol)
-if the property is any decent size, maybe 1ac+, i would look for the following: wetalnds/ floodplain, utilities, buildible terrain, etc. This will give u a rough idea if the raw land will be worth anything (long term)

These are the basics, and each little basic item will make you think about new questions you want answered.

You should consult your closing attorney for legal papers.

I hope this kinda helped. Good luck.

Hi Danny

What does ARV stand for?

John

0 Votes

Hello all

I just registered and this is my very first post on this forum. I've read a few books and been through various forums on real estate investing to get educated.

Now I'm just as excited as the next guy/gal, but what gives me a moment of pause is not having to talk to a seller or looking like an idiot while putting a "creative deal" together. It's the things you CANNOT be creative about. Namely due diligence, using the right forms and other legalities. Additionally, the order in which they are presented and completed.

Is there a thread somewhere that gives a comprehensive list of all the due diligence items that must be completed before taking the plunge? Also, is there another comprehensive list of forms that we should have to complete a deal with the seller? What order should they completed in? I've looked but have been unsuccessful.

If it's of any help, I'm in Sacramento, CA looking to buy my first investment property. I'm looking for FSBO houses to flip or rent out. Eventually I'd like to have enough rental properties (an apartment complex would be nice!) to produce enough passive income so that I can invest full time.

Thanks!

Looking to start off the new year right,
John

0 Votes

All Forum Posts by: NA NA

NA NA has started 1 posts and replied 4 times.

Post: Due Diligence, Forms and other Legalities

Post: Due Diligence, Forms and other Legalities

Post: Due Diligence, Forms and other Legalities

Post: Due Diligence, Forms and other Legalities