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What Do You Think of This Project? | International Residential Real Estate Investors Association
Saturday August 19th 2017

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What Do You Think of This Project?

I often have projects thrown at me with this question.  Obviously, a one pager or even a complete marketing package is not enough to realistically make any firm position on a project in most cases.

Purchasing rental residential or multifamily is a complex task as discussed during previous posts.  That said, if a project value is high enough  there are cases where steps can be skipped.  Normally, this is a case where a property is under foreclosure, REO, or a tax sale.  And while these cases can allow short cuts, you should do all you can to step through your usual procedures to avoid finding out later that your golden opportunity is a pig.

At a minimum, you should be able to identify comps, get recent rent information, current occupancy, visit the property  if only as a prospective renter, check tax records, collect local crime information, and check local demographics.  While not perfect, these with some quick but careful analysis can go far toward assuring the great deal turns out to be just that.

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