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Updated over 5 years ago on . Most recent reply

User Stats

143
Posts
51
Votes
Ryan Lee
  • Investor
  • Bowie, MD
51
Votes |
143
Posts

How do you appraise an apartment building?

Ryan Lee
  • Investor
  • Bowie, MD
Posted

So there is an apartment building I am trying to appraised but I need some assistance. Its 2 buildings attach to each other but has 2 separate address. 

The bottom floor is a restaurant and its spans the entire area of both buildings A & B. 

Building A has

1 apt  on floor 1

1 apt on floor 2

Building B has

1 apt floor 1

1  apartment that spans across building A&B floor 2

1 apartment that spans across building A&B floor 3

so there is a total of 6 units, How do i figure out whats it really worth?

Most Popular Reply

User Stats

74
Posts
48
Votes
Paolo Agostinelli
  • Investor
  • Pittsburgh, PA
48
Votes |
74
Posts
Paolo Agostinelli
  • Investor
  • Pittsburgh, PA
Replied

@Nicole Draper My business is not focused on wholesaling, but I know several wholesalers and I will say this. I would never make a reckless claim that I know what "most" wholesalers, or agents, or anyone else are doing out there. Nor would I claim to say what was or was not legal without knowing what the laws are in every state, and how individuals are operating in all of those different operating environments. So, I don't. I know, and more importantly, some of the very best real estate attorneys in my state define a process that is 100% aligned with the law. The fact is that each state has different laws and defines legal contractual rights of all parties. So, if an experienced real estate attorney in a specific state defines a process for their clients that allows them to "wholesale" (contract assignment, specifically, is illegal in PA, so no one I know does that specifically), then unless something changes materially in my state and everyone I know is operating under those rules, then all of the noise by those who may have self serving interests to cry foul out there does not matter to me because I know that those who follow those processes are acting well within their legal rights. (Long sentence, I know. My dinner is getting cold.)

  • Paolo Agostinelli
  • Loading replies...