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Updated almost 6 years ago on . Most recent reply

Account Closed
  • Specialist
  • Hendersonville, NC
23
Votes |
159
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How would you handle this, Commercial Investors?

Account Closed
  • Specialist
  • Hendersonville, NC
Posted

How would you handle this?

I paid for my inspection team to come out next Wednesday to do an inspection on a 10 unit apartment.

The owner emailed today and said I won’t be able to access a particular unit because the tenant “works third shift and sleeps during the day.”

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Brian Burke
#1 Multi-Family and Apartment Investing Contributor
  • Investor
  • Santa Rosa, CA
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Brian Burke
#1 Multi-Family and Apartment Investing Contributor
  • Investor
  • Santa Rosa, CA
Replied

I would assume it is a "down unit" and needs to be completely rehabbed, and budget for that, until proven otherwise.  If that budget blows through the amount you previously allocated, you can explain to the seller that you have no choice but to budget for a complete rehab and ask the seller for a credit at closing to make those repairs.  If they object to that, then they can make the unit available for you to inspect to prove the condition of the unit.  Hitting them in the wallet should motivate them to accommodate your inspection.  The choice is theirs.

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