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Updated over 2 years ago on . Most recent reply
top mistakes made when buying a smaller apartment complex?
Hello!
I’m looking to buy a smaller apartment complex(16-24 unit) but not opposed to smaller or larger.
Just curious what were some of your top mistakes that you learned from when you started buying apartment complexes? Or things you have seen happen to a newer investor in the commercial space.
Thanks,
Pat
Most Popular Reply
Bjorn Ahlblad
#5 Multi-Family and Apartment Investing Contributor
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#5 Multi-Family and Apartment Investing Contributor
- Investor
- Shelton, WA
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Bjorn Ahlblad
#5 Multi-Family and Apartment Investing Contributor
Pro Member
#5 Multi-Family and Apartment Investing Contributor
- Investor
- Shelton, WA
@Patrick Flanagan not knowing how to underwrite. Believing the seller/broker pro forma. Expecting the seller to tell you the truth. Not examining the financials in minute detail. No inspection. Not seeing every unit. No estoppel certs. Those are the main ones, I am sure others will chime in.