First Investment Question

[Presley Becker]

I am looking at a complex to invest in with 18 units that are fully occupied. The property is managed by a contracted company. This would be my first major investment, so I do not have much investing experience, but I have done a lot of studying on the matter. I will need to finance most of the purchase, but if my numbers are correct, it would still generate cash flow even with 100% financing. I’ve requested financial statements, tax history, utility costs, and information on the property management company. Am I missing something or does anyone have advice for someone considering starting on a bigger investment?

[Drew Sygit]

@Presley Becker visit city Building & Assessing Departments to see if any open permits or tickets, or recent history.

What are city requirements regarding inspections and registrations?

How are common area cleaning, landscaping, snow, garbage, laundry, etc. being handled and by whom?

What about maintenance?

Age of roof, electrical, heating & plumbing systems?