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2024 Sep 5, 12:29pm
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2024 Sep 5, 12:29pm
zzyzzx says
all about research and due diligence
i agree as far as the other post about checking existing leases and who the tenants are as well as verifying the financial docs that the seller provides
hire a good building inspector to check from foundation to the top of the roof including condition of utilities like water and sewer lines, storm water issues now and potentially in the future, etc
as well as what is next to the real property such as undeveloped land that could end up being developed and reduce your property value or make it hard for customers to reach the tenant stores on your property
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I'm a failed Real Estate Investor.
all about research and due diligence
i agree as far as the other post about checking existing leases and who the tenants are as well as verifying the financial docs that the seller provides
hire a good building inspector to check from foundation to the top of the roof including condition of utilities like water and sewer lines, storm water issues now and potentially in the future, etc
as well as what is next to the real property such as undeveloped land that could end up being developed and reduce your property value or make it hard for customers to reach the tenant stores on your property
.
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I rented a condo to a 50-something guy that was moving to Oakland (Rockridge) for work from the east coast. He lived in the unit for 5yrs.
I get a call from him one Saturday morning saying the kitchen sink is backed up and the disposal isn’t working.
At the time I was managing the unit. I show up to find the garbage disposal completely full to the top with orange peels and watermelon husks.
I look at the guy to see if I could find a trace of common sense in his eyes. I replace the disposal and inform him that this is not a commercial grade disposal and items like that must go in the trash.
That was one small example why I’m no longer a landlord.
I have many stories but interested to hearing yours as well.