When evaluating an investment property, your first job is to determine if the ‘business’ that you are buying is a sound business and one that is what the seller and the broker told you it would be. In other words, you are going to play ‘Quincy, CPA’. You are going to become a forensic accountant.
But wait. That’s not what you signed up for. You were just going to collect rent checks and travel. That’s fine. That’s a great plan and one that you will achieve but before you do, you must learn all aspects of the business.
And the first aspect that you must learn is how to find where the seller buried the bodies. And believe me, there are bodies buried. There always are.
How do you conduct a forensic accounting of the multifamily business if you have never done this before?
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Join Apartment Investor and Author of Buy It, Rent It, Profit Bryan Chavis as he discusses the how-to's of apartment investing and managing multifamily properties.