Six Unit Apartment building

[William Chrisman]

I've found a 6 unit apartment building for $210k on loop net. Besides price and the number of units I do not have any other info. This week I'm wanting to call to gather more information. I'm hoping BP can help me gather a list of questions to ask to help me sound less like the new investor that I am. I obviously need to find out the number of beds and baths , but what other info should I get to help me evaluate the deal appropriately. Thanks BP!

[Account Closed]

@William Chrisman I would want to know:

1. What is the unit mix?

2. Current rent roll?

3. Taxes?

4. Other expenses i.e. gas, electric, water, insurance, etc.

5. Any deferred maintenance? Condition of the roof? Boiler (if there is one)? 

6. How long has it been on the market?

This should get you started in the right direction. If you were to put it under contract you'd surely need to have an inspection done.