If You See This In A Deal...RUN AWAY | Ep. 549

If you see any of these in a potential real estate deal... RUN AWAY.

Look, when it comes to a deal, we're not afraid to get our hands dirty. If property needs a new boiler... no problem. But there are certain red flags in a deal that we WILL NOT touch. 

Perpetual Vacancy. 

When you see perpetual vacancy in a building, you should be scared.  Now, it could just be a case of poor management, but when you're in an area like us with high demand... there's probably a reason those units are remaining vacant. Skip that deal. 

Zero Parking Solutions. 

If the property you're looking at has no parking... not even street parking... forget about it. 

Reputational Damage.

Make sure you know who you're buying from. Your reputation is going to be effected just by doing business with that person. If the seller has a certain reputation, either in the industry or with their residents... that's going to follow you. 

Cap Ex Budgeting.

Alright, this is the big one. Obviously you need to make sure you have a thorough understanding of all the cap ex items in this deal. Boilers, roofs, plumbing, wiring... it can add up FAST. It doesn't have to turn you off of the deal, but you need to know what you're dealing with. 

So, if you see these red flags in a deal... RUN AWAY. 

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