All Forum Posts by: Alex Gingrich

Thanks for these! The property is 130 units. On site management will be necessary. 

I am looking for a great property manager in the Oklahoma City area with experience managing larger apartment buildings.  I am in the process of purchasing.  The current management company has done a good job with low vacancy, but the expenses are very high.  The neighborhood and condition of the building are both B-.  The property is located in the north west part of OKC.  Any recommendations would be appreciated.

I have an opportunity to purchase a non-performing, run down assisted living facility in Los Angeles. The property is 80 units. I am inexperienced in this asset type so I am looking for a senior living facility operator to help me determine what the fully performing value would be. This info will help me negotiate with the seller and help me decide if this is a project that I want to pursue. Does anyone know of a reputable and experienced operator in the Los Angeles area that might be able to help?

Thank you for that!

I am looking into a property that I found in Columbus. I am trying to determine what the approximate average expense per unit per year for a class C type property would be and compare it to what the seller is telling me. The property is about 70 units, townhouse style, landlord pays water, trash and sewer, tenants pay electricity and gas. About half of the units have been updated in the past 3 years and the other half are older. The property was built in the 1970's. What would a realistic range for expenses per unit per year be including taxes, insurance, management, maintenance, utilities, repairs/capital reserves? I am looking for a dollar amount and not a percentage.  Thanks!