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Updated over 8 years ago,

User Stats

121
Posts
8
Votes
Todd Moriarty
  • Investor
  • Macomb, MI
8
Votes |
121
Posts

If I buy an apartment building, who keeps the cash reserves?

Todd Moriarty
  • Investor
  • Macomb, MI
Posted

I'm looking at different buildings right now and was told by a reliable source that, if I buy the building, I get the owner's cash reserves.  That doesn't sound right to me.  I know I get the tenant's security deposits, but the reserves?

Some owner's are including their cash reserves in the profit and loss statement for the building.  If I don't keep that money, then why include it in the statement and disclose it to me? 

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