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Updated over 4 years ago on . Most recent reply

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30
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18
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Nicholas Preston
  • Rental Property Investor
  • Danville, VA
18
Votes |
30
Posts

Apartment walkthrough before purchase

Nicholas Preston
  • Rental Property Investor
  • Danville, VA
Posted

I’m very interested in purchasing a 14 unit apartment in my town. It consists of four buildings, three of them contain four unit one bedrooms and the other building is a two bedroom duplex. I walked the property with the owner yesterday and he showed me inside two of the fourteen units. They were all very nice and clean. He said the remaining units were in similar condition, he doesn’t want to bother everyone and didn’t show me the rest. All fourteen are currently rented in a “C” class neighborhood. My question is should I insist walking through all fourteen units before I submit an offer or just go with it because the rent rolls justify purchasing the place and the buildings   seem in fine shape. How adamant should I be about viewing them all? Thanks biggerpockets community!

Most Popular Reply

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1,093
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754
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Mark H. Porter
  • Investor
  • SC NC, VA
754
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1,093
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Mark H. Porter
  • Investor
  • SC NC, VA
Replied

I would make an offer but make certain to make it contingent on formal inspection, appraisal, your personal walkthrough,

and financing.  I would certainly NOT go to the closing without having looked inside every one.

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