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Updated over 7 years ago on . Most recent reply

User Stats

16
Posts
2
Votes
Wade McMaster
  • Real Estate Agent
  • Herndon, VA
2
Votes |
16
Posts

How do I look up the owner of a property? Also, advice please

Wade McMaster
  • Real Estate Agent
  • Herndon, VA
Posted

I live in a large, seemingly mismanaged apartment complex in an area that usually commands higher rents, and I'm studying the property, turning it over in my head. I think if I could contact the owner I could probably negotiate a master lease that would allow me to increase the value of the property by more money than I've ever seen (friendlier, more professional front office; more thorough maintenance; individual utility metering; assigned parking places; and above all, lower turnover and vacancy). I haven't counted all the units (the place is huge), but I'm pretty sure the place is large enough to bring in around $3,600,000/yr in gross rent, minus vacancies. More if the units had a more aspirational appeal.

Anyway, how does one look up who owns such a property? And, more importantly, any advice for how to proceed with something like this? It seems like such a big, glowing opportunity for improvement, but it would also be a lot for a newbie such as myself to take on. On the other hand, if I just negotiate a win-win arrangement with a master lease, I could resell it to a pro who could do the heavy lifting, right?

Most Popular Reply

User Stats

16
Posts
2
Votes
Wade McMaster
  • Real Estate Agent
  • Herndon, VA
2
Votes |
16
Posts
Wade McMaster
  • Real Estate Agent
  • Herndon, VA
Replied

Here's what the current management are doing wrong, via Seth Godin's blog. Zero empathy for the tenants.

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