Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago on . Most recent reply

User Stats

121
Posts
14
Votes
Abad Marroquin
  • Chatsworth, GA
14
Votes |
121
Posts

28 Unit Apartment Under Contract and Need Help!

Abad Marroquin
  • Chatsworth, GA
Posted

I have a 28 unit apartments under contract in Georgia. The purchase price is $450K

Now I am analyzing this deal. 

I have the rent roll, and I am requesting the operating expenses :

Property Taxes (I already got this from the county)

Insurance (I am getting a quote)

Matanance and repair 

Landscaping

Garbage

Power (If paid by owner)

Water and sewer (If paid by owner)

A copy of all leases of all occupied units

Year the roof was replaced

Year when last update took place 

The age of the AC units

What am I missing? 

  • Abad Marroquin
  • Most Popular Reply

    User Stats

    1,635
    Posts
    1,363
    Votes
    Michael Le
    • Developer
    • Houston, TX
    1,363
    Votes |
    1,635
    Posts
    Michael Le
    • Developer
    • Houston, TX
    Replied

    @Andrew Johnson I'm the same. My LOI is a pretty tight number and I'm basing it on detailed underwriting. Although the LOI is technically non-binding, to submit an offer and then try to change it afterwards is still seen reputationally as retrading, unless it's for something that is non-obvious like underground plumbing. But if you're lowering the offer because you 'suddenly' realize you need to repaint the exteriors then be prepared to not work with that broker again.

    Loading replies...