All Forum Posts by: Derrick U.

I’m out of state but I want to invest in multifamily apartments in Chicago. I’ve read the post from other BP members and it’s clear that to be successful, I’ll need a solid team. I suppose this team includes: realtor, real estate lawyer and property manager. Let me know if you can help. Thank you.

@Nathan Gesner

Thank you!!

I own a 20 unit complex in AZ. It sits on about 0.75-1 acres of land. It’s a class C and has minimal vegetation. Just gravel and rocks for landscaping.

Occasionally weeds sprout up from the gravel and rocks requiring removal. My tenants (or their neighbors) pets leave poop throughout the property causing a smell and disgusting curb-side appeal. Also the tenants (or their neighbors) leave junk (mattresses, chairs, tables, etc) out rather than placing it in the on-site dumpster.

What’s the most economical way of addressing these issues? Right now the cost is cutting into my cash flow ($1000/mo).

@Bernie Neyer

We closed on November 10th. The tenants paid two months in advanced without my knowledge. Basically, all rents were paid for November and prorated accordingly. These tenants paid in advance for some reason. The seller didn’t tell anyone.

@Charles Seaman

We closed in November 10th. The tenants paid two months in advanced without my knowledge. Basically, all rents were paid for November and prorated accordingly. These tenants paid in advance for some reason. The seller didn’t tell anyone.

@Karl B.

We closed in November 10th. The tenants paid two months in advanced without my knowledge. Basically, all rents were paid for November and prorated accordingly. These tenants paid in advance for some reason. The seller didn’t tell anyone.

@Steve Morris

We closed in November 10th. The tenants paid two months in advanced without my knowledge. Basically, all rents were paid for November and prorated accordingly. These tenants paid in advance for some reason. The seller didn’t tell anyone.

After closing on my multifamily some of the tenants refused to pay rent for December and January because they said that they paid the previous landlord. They have receipts. The previous owner is not responding to my calls. Any suggestions on how to get the money he owes me?

I’m evaluating a property for purchase. It’s 20 units, 75 years old and has a septic tank.

What should I be concerned about?

Does anyone have extensive experience with this?