All Forum Posts by: Wade McMaster

Thanks! The tax department has the owner's name. Unfortunately, it's a company with the same name as a popular movie (so as to be almost Google-proof) and their listed mailing address is that of the management company I want to try to replace. 

@Account Closed Thanks, but I just checked arivify and they don't have it. 

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?

Are you sure you could get only $1750/mo? My house cost less than 60% of what you say the house is worth, but it rents for $1425, or 81% of what you're expecting. Maybe that's to be expected, I'm still new at all this myself, but I'm kind of surprised a $300k house couldn't bring in $2k/mo or more.

@Mike Dymski

You're not a hypocrite if you're honoring your lease/mortgage and other agreements. Beer is beer, and obligations are obligations.

I'm really new here, and I don't know much. I've noticed something that seems strange on Zillow that I was really curious about. There's these houses in Chantilly, VA that are under $60k. If you're not familiar with the area, that's less than 5 years' rent for a modest 1-bedroom apartment in this area. These are 2 or 3 bedroom manufactured houses. I found the HOA fee was listed as $1045/mo. What's up with that? One line in the information says "Ownership: Ground rent." What does all of this stuff mean?