What types of questions do you typically ask the broker upon initial review of the OM? Before the deep dive into the financials and your underwriting. Questions like seller's motivation, neighborhood trends, comps, etc.
Also, obviously price is seldom listed, so how do you approach the topic of asking for the seller's range?
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To get an idea of what the seller is looking for, we typically ask for the “whisper price”.
“Any guidance on pricing?”
- Sales w/ cap rate comps
- New development or recently sold properties in immediate area
We usually ask the following:
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