ASK MIKE MONDAYS - Michael, I just scheduled an appointment with the listing agent to walk a multifamily property; what do I need to pay attention to?
After reviewing the initial underwriting and if you think it works for you and your investors…it becomes necessary to physically walk the property. Most listing agents require you to walk the property PRIOR to submitting a LETTER OF INTENT for purchase. The listing agent wants to make sure that you and your equity have had a chance to understand the physical needs of the property before they will consider LOI seriously. Michael discusses what you need to pay attention to when walking the property with the listing agent.