Smallplex - real estate prospects - acquisition process
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http://investor.smallplex.com
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Smallplex - real estate prospects - acquisition process
- 1. Smallplex Properties: Multi-family Real Estate Investments.AgentInvestor TitleCompany orAttorney(NY) ClosingFinding Escrow Start Is Cap Rate: 30- 50% or greater Browse Zillow, investor.smallplex.com Yes Call and Make Verbal offer: Will seller accept X Write up Purchase Contract with 1k Earnest Money Review & Sign Contract, for Seller to pay Buyers Closing Costs etc. Buyer Deposits or Wires Earnest Money Deposit Agent delivers Contract to Seller for e-Signature. Seller Accepts & Signs. (Optional): Engages Home Inspector, if contingency not waived Conducts Title Search etc. Executes Title Insurance (for Warranty Deed), none if Quit Claim Deed. Buyer can request Seller to pay for closing costs in purchase contract, e.g. title insurance Buyer reviews Clear Title, Deed and Closing Statement Buyer Wires Funds for Closing Title records deed with County Executes Mgmt Agreement with Ppty Mgmt Co. Finds Property Management company, typically 10% mgmt fee Receives direct deposit one month after the first month after closing End Title mails recorded Deed to Buyer s address Yes Verifies Tax Credit, Rent credits pro- rated?