Christian OsgoodCEO, Multifamily Strategy · CEO at Multifamily Strategy

Why you should Talk to Tenants Before Buying

12 May 2023 · 0 min

Watch on YouTube

0:22

Get an estoppel certificate signed by the tenant before you buy a rental property. It confirms the rent amount, security deposit, and move-in date, so the owner can't lie about the lease terms or pocket deposits later.

It's cool to be able to trust an owner, but I want to get word from the tenant. An estoppel certificate is where the tenant signs off saying, this is my rent, this is my security deposit, this is when I moved in. That way I can go to the owner and say, hey, look, they said the deposit's $900. You said it was $200. What's up? Because some owners are going to try and run away with the deposits and say, sue me, which will take too much time, too much money to actually go after them for the deposits. Don't skip this step.

More from Christian

9:31

How To Buy Real Estate When You Have Zero Experience | Objection Series Ep.2

3d ago

0:39

Seattle is cooked

3d ago

0:38

Speak with authority to turn broker rejections into deals - boost your confidence #RealEstate

5d ago

0:34

Turn Broker Objections into Closed Deals - CRE Negotiation Tactics #RealEstate #Negotiation

6d ago

9:39

How to Get Multifamily Deals Under Contract Without Having All the Cash | Objection Series Ep. 1

6d ago

1:04

How I Scaled 500 Apartments in One Texas Market in 12 Months #RealEstate #Multifamily

1w ago

39:16

How to Raise Capital - The right way for every deal

1w ago

1:00

Turning a $12.2M, 200-unit mess into profit - live multifamily turnaround update #Investing

1w ago

1:03

Day 10 Update: Turning a $12.2M, 200-Unit Apartment Complex Around in 80 Days #RealEstate

1w ago

9:59

Day 10: Before Time Runs Out | Saving a Failing 200 Unit Apartment in 90 Days (Ep. 3)

1w ago

0:33

How 2 Direct Deposits Generate $70K/Month from 224 Section 8 Units @ 99.4% Occupancy#RealEstate

1w ago

See all content