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5 Questions to Ask Before You Buy Multifamily Apartments

April 12th, 2021

Prepare for Your Next Investment Move with Help from The Estes Group

Commercial real estate investing has many different facets. You can develop raw land, invest in retail centers or office buildings, and many other types to secure your portfolio. Knowing the best questions to ask might make the difference between a good deal and a poor one in each scenario. When you’re ready to buy multifamily apartments, be sure to have your list of questions in hand and reach out to the experienced team at The Estes Group.

Choose the boutique brokerage focused on your financial goals. The Estes Group handles multifamily acquisitions, property management, and court-appointed receiverships among the many services we offer. We believe that you deserve the best service to ensure you have the right resources available to make your investment decisions. Let us help you build your portfolio.

Get the Best Deal by Asking these Questions

There are never too many questions you can ask when searching for multifamily apartments. Here are five to get you started toward your next purchase:

  1. Why is the Property Up for Sale? Knowing the motivation behind the sale of the property can aid in negotiations. For example, a seller dealing with a 1031 exchange will have different selling urgencies than someone who is burnt out of real estate. Reasons for selling vary but can include partner acrimony, retirement, new opportunities, inherited property, or relocation.
  2. How Long Has the Property Been on the Market? The answer to this question will also tell you how motivated the seller may be. If they are ready to relocate, and they have been waiting a year for the property to sell before they can move, then the seller may be more amiable to negotiating.
  3. What Type of Financing Currently Exists? It may be possible to assume the existing mortgage, or maybe the loan terms are coming due. This may lead to different opportunities for negotiation.
  4. What Kind of Work Needs to be Completed? It helps you get an idea of the type of projects that you will need to take care of. However, you may not get all the answers up front. Many will be addressed during inspections.
  5. Who Manages the Property? Some real estate investors not only own the property but also manage it. If you prefer a hands-off approach to the day-to-day operations, then it helps to know this answer.

Build Your Portfolio for Long-Standing Wealth – Choose The Estes Group

Investing in real estate is a smart move for those looking for long-term wealth building. The Estes Group understands this and works hard to ensure you have access to great deals that fit your goals. Our services range from multifamily brokerage to acquisitions to raw land development, and many more in between. We keep our ear to the markets in Alabama, Mississippi, Tennessee, and Louisiana to provide all our clients with the right investment they are looking for. Call us to discuss how we can help you build your real estate investment portfolio.

Call us at 601-362-9633 or contact us online to discuss your real estate goals with our knowledgeable and experienced investment property brokers. We’ll help you research, choose, and buy multifamily apartments for sale that deliver the best return on investment.