Welcome back to Best Commercial Retail Real Estate Investing Advice Ever! Today we’re going to be learning the questions that I ask a seller’s real estate agent after I take a look at a property on Loopnet and think that this could be interesting. You don’t necessarily need to ask all these questions every single time, but it’s a good idea to go over most of them when you call the seller’s real estate agent.
Here is the step-by-step guide for your homework in today's episode: https://montecarlorei.com/questions-you-should-be-asking-the-sellers-real-estate-agent-when-interested-in-a-property/
A brief breakdown of the questions you should be asking the seller's real estate agent is:
1. Introduce yourself
2. How long has the property been on the market?
3. What is the potential you see for this property from an investor's perspective?
4. Are you local?
5. How did you come up with the price?
6. Who is the seller and how long have they owned the property?
7. Is there any known contamination in the property?
8. Does anyone have the right of first refusal (aka ROFR)?
9. Are there any easement agreements?
10. Please send me the rent roll.
11. Is the building historical?
12. Has the building been retrofitted (if older building)? Do you have any estimates to retrofit the building if it hasn't been retrofitted yet?
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