wholesaling 45 unit apt complex HELP!!

[Justin Bird]

Ok so I have a gentleman that wants to sell his 45 unit apt complex. I need to know what kind of questions that I need to ask him so that I can answer buyer's questions. I've never done large multi units before what kind of numbers should I be looking at? All help would be appreciated.

This is what I know so far...

"I have an apt building on 30th and Harrison that I would be willing to trade towards some rental homes. The building is 45 units, with a mix of studios, one bedrooms and a two bedroom, two bath. The building also has a very large paved lot next to it that could be possibly built on to accommodate a large number of units. The building may be historic as I understand there are tax credits available for it. The property taxes are currently around $1400/yr. The income is around $256,000 or so per year gross. The building is separately metered, so that could be passed on to the tenants if desired. The loan can be assumed, and, we would be willing to carry the second as well with cash or a trade of rental houses as the down payment."

He is interested in SFR's instead of multi's let me know everything that you would want to know about this property if I were wholesaling it to you.

Any input would be greatly appreciated!

Oh and if this is something you are interested in please PM me.

Thanks

[Uwe S.]

Hello Justin,

On 30th / Harrison I found a big apt complex. It´s definite MO side. A bus depot is nearby.

Okay, what you need is following:
- rent roll last 3 years (thanks Mr_Investor)
- approved profit & less of the last 3 years, the last 12 month in detail
- property statement (needed maintenance, shape of the units and the building) any violation from the city
- the complete unit mix (how many 1 bed, 2 bed and so on)
- todays occupancy
- market rents for the units (yes or no)
- is the property self managed, if not name and address of the management
- utilities, gas and electric pays the tenants (it´s important)
- property and unit photos

Thats the prime.

$1,400/yr is possible the seller wrote "building may be historic as I understand there are tax credits available for it" and it is a historic building

-Uwe