28 Unit Apartment Under Contract and Need Help!
I have a 28 unit apartments under contract in Georgia. The purchase price is $450K
Now I am analyzing this deal.
I have the rent roll, and I am requesting the operating expenses :
Property Taxes (I already got this from the county)
Insurance (I am getting a quote)
Matanance and repair
Landscaping
Garbage
Power (If paid by owner)
Water and sewer (If paid by owner)
A copy of all leases of all occupied units
Year the roof was replaced
Year when last update took place
The age of the AC units
What am I missing?
Most Popular Reply
@Andrew Johnson I'm the same. My LOI is a pretty tight number and I'm basing it on detailed underwriting. Although the LOI is technically non-binding, to submit an offer and then try to change it afterwards is still seen reputationally as retrading, unless it's for something that is non-obvious like underground plumbing. But if you're lowering the offer because you 'suddenly' realize you need to repaint the exteriors then be prepared to not work with that broker again.