Updated over 6 years ago on . Most recent reply
50 unit apartment complex empty with no rent rolls nor expenses
I have a lead on a 50 unit apartment complex that is empty, has no past expense sheets and no rent rolls. How do I find out the expenses for this complex? I use Rentometer to get some local rent prices so that shouldn't be an issue. Also I want to look through every unit during my due diligence. If the electricity is turned off can I ask the electric company to turn it on for just one day? Thanks!
Brad
Most Popular Reply
I would talk to a local property manager who may be interested in managing this asset for you. They should be able to give you a clear picture of what the rents could be as well as expenses for similar units. I'd expect to get a deep discount on the property for assuming the risk.